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TFC Commodity Trading Forum

Re: Trades - Gold chart./Silverbear

Yeah. I am liking the action today and yesterday.
It also had a nice bounce of the 150 EMA which supported the continued uptrend.
It got my attention a couple of days ago when the USD broke down through the 76.50 area. Mind you, this could be short lived - due to EUO euphoria about kicking the can further down the road ( that road is getting to be a long one - will probably end up in a dead end eventually).Strength will probably return to the USD - but, I will wait for that one.
I still prefer the RSI here, although the CCI is another good indicator to refer to.
Have you read Constance Brown's book on RSI? Very technical and smomewhat exotic. The key point I read was that bull markets regularly dip into the 40 range on pullbacks. She suggests that you buy on these 40 dips as long as the longer trend remains intact.


Lee - you still in Gold??