In
a Getting Technical Interim Update November 21, 2013 GT1416 on page 4 - I
commented on the precious metals complex.
“Watch
the large gold miners The larger gold producers dominate the TSX Materials
Sector by weight and the performance is displayed on the Weekly MOM Table on
page 3. The
TSX Materials sector is currently a # 12 rank on the long term monthly rotation
MOM Canadian table. Note Barrick Gold (ABX) and Goldcorp (G) are so far -
holding at or above their important June and July 2013 lows.
Strategy:
hold on to current positions in the gold complex – but do not add-on in here
Bullion
– The long term trend in bullion is still up as displayed in the 15 + year plot
to the left (insert). Currently the 12-year primary trend line is at the $1200
dollar level. This important level was tested during the (C) corrective wave
low of June 2013 when bullion bottomed at $1183.
The
current wave of selling should not violate the June 2013 lows – see support
from the major producers (above).
Posts
3 comments:
Mr. Carrigan,
What is the indicator on the bottom of the chart?
Thank you
edmagee
P.S. Sorry to see your Star column is no more.
Mr. Carrigan,
What is the indicator on the bottom of the chart?
Thank you
edmagee
P.S. Sorry to see your Star column is no more.
For edmagee
The indicator at the bottom of the gold chart is a 5/15/3 histogram
It is a 5 period less a 15 period smoothed by 3 periods
This tool was originally use by Trend & Cycle during the Ian Notley period
Bill C
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