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In May I recommended that gold bugs think about buying stocks for gold to enjoy the bullish momentum on the market. Chart courtesy of tradingview. I chose grams to have better scalability and hence improved readability compared to the regular ratio in troy ounces. It took the ratio five months and two attempts to break out above the consolidation tradingview gold price After that the price set three consecutive bullish candles reaching out higher and higher.

Currently, the ratio is positioned in the middle of the black uptrend, and tradingview gold price have more room to the upside before we would reach the major resistance area. In my May call the ultimate target for the ratio tradingview gold price set in the area of the Y consolidation at the tradingview gold price The current upside trend could be either the first leg of correction or the first move within the major trend reversal as the preceding move was to the downside.

I added the Fibonacci retracement levels to the chart to highlight the upcoming resistance area orange rectangle to be ready for the struggle of market forces there. It ranges from the The red horizontal resistance at the 93 g level fortifies the Fibonacci barrier. The RSI indicator keeps the support at 50 level.

It has more room to the upside before it will reach the previous tops area and it gives hope for more gains in the ratio. To show you which one performed better I put the following comparison chart below. The chart starts on the 16th of May when my earlier post tradingview gold price published. There are three lines: Both HUI and Randgold tradingview gold price extreme volatility cutting through the zero line up and down. These instruments reached the maximum gain at the beginning of September: So if you would buy and hold them, then you could be in red now.

This contributor has no positions in any stocks mentioned in this article. This article is the opinion of the contributor themselves. The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. This contributor is not receiving compensation other than from INO. Which instrument do you prefer?

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Jun 6, 2014. There are many misconceptions about binary options, so it is really important that. The US Dollar Index also backed way off its daily high to trade sharply lower in early.