Gold in USD
Gold in USD is printing an interesting chart. We have the potential for a reverse head and
shoulders pattern which would indicate a move to $2050 if the neckline is
broken.
The daily chart (not pictured here) is a bit of a mess with
respect to a clear price pattern but the weekly chart is clearer.
The RSI is at a point where rallies have taken place but the
MACD line is trending lower not towards the signal line.
Gold in Euros
This chart is more interesting to me.
We can see the base that Gold has traced out in Euros in
anticipation of a coming move higher.
The MACD line is trending towards the signal line and the RSI has
bounced off a level consistent with rallies.
I am bullish on gold but right now have a preference for
gold in euros over gold in dollars especially if the problems in Europe
continue to increase.
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PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN WHEN INVESTING IN THE STOCK, BOND, AND DERIVATIVE MARKETS. WHEN CONSIDERING ANY TYPE OF INVESTMENT, INCLUDING HEDGE FUNDS, YOU SHOULD CONSIDER VARIOUS RISKS INCLUDING THE FACT THAT SOME PRODUCTS: OFTEN ENGAGE IN LEVERAGING AND OTHER SPECULATIVE INVESTMENT PRACTICES THAT MAY INCREASE THE RISK OF INVESTMENT LOSS, CAN BE ILLIQUID, ARE NOT REQUIRED TO PROVIDE PERIODIC PRICING OR VALUATION INFORMATION TO INVESTORS, MAY INVOLVE COMPLEX TAX STRUCTURES AND DELAYS IN DISTRIBUTING IMPORTANT TAX INFORMATION, ARE NOT SUBJECT TO THE SAME REGULATORY REQUIREMENTS AS MUTUAL FUNDS, OFTEN CHARGE HIGH FEES, AND IN MANY CASES THE UNDERLYING INVESTMENTS ARE NOT TRANSPARENT AND ARE KNOWN ONLY TO THE INVESTMENT MANAGER.
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