GOLD 0.51% $1,391.7 gold futures

A couple of things to note from XGD chart technicals from a...

  1. 40,611 Posts.
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    A couple of things to note from XGD chart technicals from a different perspective. I'll leave it to the viewer to decide.

    goldfibextend.png
    Fib extension has tested the extension boundaries in full, confluence with the peak of 2011. I didn't realise the current swing high actually broke the all time peak.

    goldfibcluster.png
    For those who use this method, there is Fib clustering of ratios from 2 important swing retracement perspective. I personally do watch the 30wk sma closely.

    Now for the negative, a triple top from the long term charts but of worry is the exponential rally. Could the bulls be unwinding their position like in the past?
 
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