Dow is 13,568.40
Dow/Gold ratio - 8.04 (August 2011 was 5.89)
Some links:
- US Stock market / Gold cycles 1850 - 2013 - by me
- Dow/Gold Ratio Falls to Post-87 Crash Low - by Adrian Ash
2013-01-17
Gold 1 week
Hello :)
I did not publish for a while (long while), but I think I will pay more attention to the trading from now one.
Let see whats going on with Gold. Since I did not observed it for a while, I am not sure how accurate is the chart I am attaching.
Lets begin:
There is long time support in pink. However it is so long, that I can not see where it "begins" on the montly chart. According this support, Gold is "due" for a rice.
Then we have a broken trinange - pink and blue line. The triangle is broken on the "correct" side, but nothing interesting going on there.
Parallel to the upper boundary of the triangle, there is a resistance. Currently it is @ 1700 level.
Last, but not least, there is a channel formed from brown lines between ~1520 and 1700 level. Support there were tested twice.
This is the situating for the moment.
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