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TFC Commodity Trading Forum

Gold/Continues to Lose Strength *PIC*

Gold continues to rally back to price resistance with less and less enthusiasm. Note the lower technicals on each rally up. The Gold stock ETFs are doing the same thing with the hot Junior Gold Stk ETF:GDXJ unable to clear price resistance. The GDXJ/GDX Ratio chart of the hot junior Gold stk ETF compared to the large GDX Gold stk ETF has also broken its outperforming uptrendline with negative divergences as well suggesting a lot of speculation is leaving this market. Price is obviously still in an uptrend but has lost a lot of its strength recently in all respects.