Sunday, June 3, 2012

3 June 2012 (Gold vs Nasdaq v Silver v Crude USAGX)

Is crude making a cup with handle or a double top?  Silver, gold and USAGX are coming back into crude's performance at this point.
I read a lot about how a collapse might happen soon, but the way I see it, the collapse (this part of it - sums of smaller collapses make bigger collapses) has mostly already happened.  See the index itself at low values, long term RSI at low values, and the difference between it and its 21 moving average at low values.
Short term is heading back to recent lows but is still above it which conflicts with the new low made by the largely watched indices.
Medium term hasn't made a new low yet and remains oversold.
The longer term and composite (weights all time frames equally) indicators are starting to reach low levels.

A stout man's heart breaks bad luck.
Miguel de Cervantes

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