Gold with Wyckoff Road Map

By: readtheticker | Thu, Jan 30, 2014
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Gold Bars

Recently we saw the gold cycle starting to strengthen, now we review with a Wyckoff price action road map.

You can learn more on Richard Wyckoff logic here. Gold selling has slowed, it has not stopped, buying has yet to overcome selling. No change of behavior yet, however the chart is full of anticipation for the bullish argument.

Gold chart
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On the monthly chart we see strong divergence, showing selling has slowed, but as stated above the buying has yet to show up with any strength.

GLD ETF Chart
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Investing Quote

"I learned early that there is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I've never forgotten that." ~ Jesse Livermore

"If past history was all there was to the game, the richest people would be librarians" ~ Warren Buffett

 


 

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Author: readtheticker

readtheticker
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