I found the site roka and there is some good information in there. It is quite amazing that you hear such a lot about the US economy and how good it is. For instance unemployment is the lowest it has been for a long time, yet the deMeadville's Economic Barometer compares 50 reports a month and compares it to last month with the conclusion that the majority is not as good as last month. It was only a few weeks ago I was comparing the non farm payrolls to the months prior and came to the conclusion that the amount being hired each month was coming down. I put this down to not alot of labor force to pull from. As you can see from Feb they made a lousy 33000 jobs and instead of it correcting the next month it only got to 196000 which is a little below average. The US government said this was a good figure. This doesn't look good to me and looks like a downtrend. If I'm correct NFP will be under 200000.
I presume the cup you refer to is the 1 year old chart for Gold.
I can see the cup and the handle coming down about half way with a tickup at the end. I can also see why you were expecting the POG to come down a little further as it wasn't quite half way down to form the handle. I guess charts don't always conform and fiscal and monetary policy can play a great part and spoil the party. Or in our case throw a party.
Take no notice of other charts it's only the top one I'm referring to.
I found the site roka and there is some good information in...
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$1.95 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| RMS (ASX) Chart |