Gold Recognition Day


Gold rallied on Thursday, which I believe was a Recognition Day. Gold sliced through the declining 50 day MA to close above the upper daily cycle band in a clear and convincing manner indicating an end to the daily downtrend and the start of a new daily uptrend. This reminds me of the Natgas Recognition day we discussed back on 9/18.

The similarities include:
* Recent cycle low
* A test of the 50 day MA
* A slight retrace from the 50 day MA
* Boom
* Then the ensuing rally


1 thought on “Gold Recognition Day

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