Back on November 3rd I wrote a post about gold titled, That Gold/Dollar/Stocks Linkage . Part of that post stated.
The daily gold chart generated a net-line buy signal today that carries with it a target of 1102 (and rising) for this move. But more interesting is the back to back range bust days (green/white) bars. It is very difficult to generate these bars on back to back days as you have to have an acceleration, and then another acceleration. Today is an extremely bullish day for gold in our opinion.
The updated chart below circles that rare double range-bust bar that we saw that day. That signal was only one month ago, but gold is up 12% in that short amount of time. I am not yet seeing any bearish indications in any of the gold charts that suggest this move is close to ending.
click chart to enlarge
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