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Post Fed: Today and March 16th Fractal-ish


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#1 Rogerdodger

Rogerdodger

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Posted 27 July 2017 - 09:55 AM

I try to copy 5 minute chart action on FED days on NUGT and compare to others.

Yesterday looked like a mini-me version of March 15, 2017.

The next day gapped up and sold off. Today is selling off without a gap-up

There are differences of course, i.e. March was bouncing of an RSI bottom and likely saw short covering increase the move up.

The fun part here is that now we are running into that downtrend line that everybody sees.

GOLD itself is in an area of resistance.

Consolidation and then a break through?


Edited by Rogerdodger, 27 July 2017 - 10:07 AM.