Back in 2013, gold was not only sold off, it was absolutely obliterated, I guess you could call it.
As you can see on the chart below, gold went from about $1700 an ounce, all the way down to $1200 an ounce. A $500 dollar move down in gold, is pretty big, however while everyone out there is very bearish on gold right now, and people are calling for a major crash, what I have seen is that there is major value in gold right now, and looking at the TRIX as the bottom of the chart it presents just a tremendous opportunity for more upside in gold soon. That is a REAL POSSIBILITY HERE, as I post this in early 2014.
This chart goes all the way back to the year 2000, and as investors we all must realize that things never go up in a straight line. Even know there is much bearishness around the place, its good to take a step back and see things for what they are worth longer term. Doing this exercise was not only interesting, but its starting to make me think you should watch this one very carefully.
There might be some real action in gold later this year, so its one for your radar EARLY TO MID 2014.
Nice chart Bill. I rarely look at Trix, it certainly shows some reverse divergence - a sign of more upward movement in my view.
ReplyDeleteIndeed my friend, been under the weather as of late but I'm back on my feet yet again...Gold, especially in its physical form in hand is a no brainier at this stage.
ReplyDelete