Andy roooo
1. dragonfly dojis double up in 2 days -bounce did not continue -
- uncertainty due to Yellen testimony to Congress Wednesday US time
Bears also trying to force the agenda shown by long candle tails - maybe nervous nellies fearing a weak 1200 support
- indecision also evident via weaker volume today.
2. Gold daily chart below has type b positive divergences - history says they work ok
3. Big picture monthly chart tells me Rule of 4 attempt is imminent - 4th attempt to break long term trendline will succeed
4. Ro4 also works on RSI seen in USD daily chart - 4 touches and away.
5. USD chart has more short term downside imho before RSI touches 30 again.
6. $USDJPY rolling over and this chart inversely correlates with paper gold rallies.
7. GDX chart had a bullish engulfing candle which has confirmed today.
So miners are leading the paper gold - usually signals comex will follow the miners
Point 7 should encourage some asx gold bulls today.
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