ChartWatchers

The Breakout in Gold and Silver

 | 

After jogging sideways for weeks, Gold (GLD) finally appears ready to start running. With the Thursday and Friday candles, it is pushing to higher highs again!

One of the things we like to see is when the gold miners (GDX) outperform the gold stocks. Gold stocks formed a tight flag recently and broke out Friday.

As I mentioned, we want the gold names to outperform the actual bullion. This is shown by using a ratio between them. When this line is rising, it is usually a great time to be invested in gold names.

For more trading ideas around Gold, Dwight Galusha, CMT is working with me on GregSchnell.com to post trade ideas! Dwight has been pointing out nice gold setups day after day, and he also posted some ideas on the Your Daily Five StockCharts TV series. Here is the link to that video:

Dwight Galusha, CMT - Your Daily Five

With the launch of the new website, the new postings by Dwight in our daily setups and the macro view by Greg Schnell, we are excited to offer a special to introduce the new offerings on GregSchnell.com. If you follow this link and select the annual membership, you can save $363. Your link to big savings!

Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Author, Stock Charts For Dummies


Want to stay on top of the market's latest intermarket signals?

– Follow @SchnellInvestor on Twitter
– Connect with Greg on LinkedIn
– Subscribe to The Canadian Technician
– Email at info@gregschnell.com

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
Subscribe to ChartWatchers to be notified whenever a new post is added to this blog!
comments powered by Disqus