From where I am looking through your monthly chart, it 'looks' bearish to me. Trendline is misleading because it broke that 2 months ago and price went straight to your falling resistance level. This is one of the reason I don;t use trendlines!
If you look from the top (circa1900) I can see a falling highs BUT with all reversals (potential) it usually starts from a higher lows which can be clearly seen. There is still a long way to getting the definition of a reversal having taken place. In the meantime gold stock leverage can magnify these small gains in gold price even without 1900 ever being reached!
Interesting I observe this week especially that the gold price is falling but the mid-large cap stocks are actually holding value. This is the relative strength shouting at me although I don't see much value in the gold stocks which is a good thing. There is premium in a bearish gold price environment indicates XGD is leading the way!
From where I am looking through your monthly chart, it 'looks'...
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Last
$17.51 |
Change
0.140(0.81%) |
Mkt cap ! $18.16B | |||
| Open | High | Low | Value | Volume |
| $17.48 | $17.55 | $17.28 | $26.79M | 1.534M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2751 | $17.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.52 | 36039 | 6 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
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