Post
Topic
Board Economics
Re: Gold: I smell a trap
by
cypherdoc
on 23/08/2011, 22:02:17 UTC

Ok... why?


Because its time:



we're at the top of a trading cycle in silver and today we formed whats called a swing high along with a downturn of several long term indicators shown in the bottom of my picture.  notice how the RSI, MACD, and Money Flow Index have been weakening for almost 4 months.  we hit the top of the overbought trading cycle today and should enter a drawn out downphase that could last months.  SLV in one day has turned down and is just hovering above $40.  it should slice down thru $40 like a knife thru butter.

edit:  sorry, the Money Flow Index got chopped off the bottom of my chart.  you'll have to take my word for it.