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Intermediate-Term Trend Model BUY Signal on GOLD

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GOLD: As of 1/12/2015 Gold is on a Trend Model BUY signal. The LT Trend Model, which informs our long-term outlook, is on a SELL signal as of 2/15/2013, so our long-term posture is bearish.

The big news for gold is that for the first time since June 2014, it had an Intermediate-Term Trend Model BUY signal generate as the 20-EMA crossed above 50-EMA. Gold broke above its first area of serious resistance today. Last week it had reached resistance along the declining tops line drawn from the July high, but didn't clear it. Besides a new Trend Model BUY signal, I like the PMO configuration. It's about to break above the last top. Things may be looking up for Gold. My concern is whether a continued strong dollar will stunt the rally.

Happy Charting,
Erin

Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More
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