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The Yen & Gold
August 20th, 2008 at 4:56pm · No Comments
Here’s a couple of daily charts we haven’t looked at in a while. Gold has given us an RSI divergence and the cycle-trap has turned up in the last few days, suggesting the plunge is over. The yen has reached the top of its channel and issued an RSI divergence as well. The cycle-trap is weakening but has not rolled over. Both markets suggest recent trends are ending, but I think we should be mindful of how strong the larger trends are in these markets. These indicators may not be signaling new trends, but only a pause in the current trend, and that pause may not last as long as expected. We’ll see.
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