RP - my observations on gold, especially on the stocks is that
many looked like they would find support near their rising 20 day
MA's, and of course the news helped boost and break many of those
out. Now on this latest move the ones making new highs will
have a big MACD divergence setting up, which they did not have on
the previous high. So that pullback over the last couple weeks
could have been something like a wave 4 and this as a wave 5. One
possibility could be many of these stocks make new highs but that
end with MACD divergence sometime later. But for now the sector is
clearly strong and looks higher in the short term especially as the
general market sells off
here's a visual representation of what I described below. So
some of these stocks are breaking out to new highs but their MACD's
are lagging the move. There's potential for a divergence to setup
unless the moves are strong enough to negate the divergence. Anyway
something to watch for in the coming days
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
RP - my observations on
I sold everything Monday and set all week watching..this is ...
Posted by matt on 23rd of Aug 2019 at 11:36 am
RP - my observations on gold, especially on the stocks is that many looked like they would find support near their rising 20 day MA's, and of course the news helped boost and break many of those out. Now on this latest move the ones making new highs will have a big MACD divergence setting up, which they did not have on the previous high. So that pullback over the last couple weeks could have been something like a wave 4 and this as a wave 5. One possibility could be many of these stocks make new highs but that end with MACD divergence sometime later. But for now the sector is clearly strong and looks higher in the short term especially as the general market sells off
here's a visual representation of
Posted by matt on 23rd of Aug 2019 at 11:42 am
here's a visual representation of what I described below. So some of these stocks are breaking out to new highs but their MACD's are lagging the move. There's potential for a divergence to setup unless the moves are strong enough to negate the divergence. Anyway something to watch for in the coming days