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Morning Matters:

Gold Struggles
by Geoff Garbacz

November 14, 2017

This morning Bloomberg wrote that gold is struggling and in "rocky" shape. As such, we thought we would look at the chart to either confirm or deny.

[Image 1]

The chart agrees. GLD which is the proxy ETF for gold is below its weekly DMA Channel. This is a negative. Also, the Erlanger Volume Swing (EVS) indicators on a daily and weekly basis are slightly negative. Last, the Heikin Ashi candles are mixed with some green and some red. When a trend is pronounced you get a series of green or red candles.

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