Tuesday, August 27, 2013

Precious Metals: Gold / Silver Going Negative

I mentioned there was a 1 min negative in GLD earlier, but now they are showing clear signs of negative divergences building.

 gold futures 1 min are just starting a relative negative divergence

The GLD 1 min was negative earlier, now it's starting to lead negative.

The divergence is migrating to longer timeframes like this 2 min

and this 3 min

SLV is even seeing a 1 min negative as well as...

a 2 min negative, these were nearly perfectly in line at the open so this represents some deterioration in underlying trade.

This is why I'm not fond of making price-based, emotional decisions.

No comments: