Loading ...I’m no chart pro, but looking further back on that chart, it looks like, every time the price gets too far below (or above) both lines, the direction changes. Look at that high point, end of Feb. Waiting for the lines to cross, selling out 5-6 days later, a much lower price. And today, the price is WAY WAY below both lines.
Today? Waiting for blue line to cross the red may take 5-6 days of higher prices. Waiting provides a safer bet yes. I myself don’t trust charts because things that happen or things said, often move the numbers. Remember the Brexit news? And Trump news? Geez. rates higher stocks higher, gold a lot lower etc. It was an enormous distortion or interruption of the Gold bull market that re-started Dec 2015.
We were fine between Aug and Nov and suddenly we all got dunked. Gold now finally back up to November ’16. A 5 month dunking.