The US Dollar Index Is Overbought And Gold Is Now Oversold

For signs of a buy signal in gold and mining stocks, I’m looking for the GDX/GLD ratio to trend up like it did at the start of March while gold is down one day. It doesn’t have to fall much, but this is the most reliable indicator for a real gold bottom and start of a new rally that I know. It’s likely to signal any day now, and that’s why I keep showing it to you this week. What I want to see is this close a day above 0.210 on this hourly chart.

It’s that important and I wrote about a little bit more in my Monday post.

On Tuesday I talked with David Skarica about the markets, including gold and Bitcoin. In case you missed it here is the video.

 

1 2
View single page >> |

Read my disclosure here, and my disclaimer here

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.