The Bonddad Blog
Still nerdy after all these years
Friday, June 14, 2013
Gold Consolidating At Low Levels
The overall chart for gold is still extremely bearish. Prices are below all the EMAs and are using the shorter EMAs for technical support. Although rising, the MACD is still negative, as is the CMF.
But most importantly, prices are consolidating in a triangle consolidation pattern -- a pattern that has been forming for for the last month or so.