Sunday, February 03, 2008

Long term gold charts are at or nearing their seasonal highs

Gold weekly chart 7 Years

HUI Weekly chart 7 Years
Notice what happens to these charts EVERY time they stray far from the 69 week Moving Average:
They ALWAYS eventually RETURN to the MA. We should BUY Gold and Gold stocks when these charts are touching their 69 week MA's and SELL or AVOID when the charts move far above the MA as they are today. Pretty simple stuff really.
Other Indicators such as the RSI and MACD and Stocastics also seem to indicate and confirm these charts are overbought and closer to a sell than a buy.

No comments:

U.S. National Debt Clock