Gold finally show some real strength, closing the week just a bit above the Fibonacci 61.8% level and the exponential 50 daily moving average (50 MAE) on the spot gold chart I posted yesterday. The price action was so strong that even the upper resistance line on the channel chart failed to stop...
bullish signs: Closed above the down trend resistance and 38.2% Fibonacci level on fine volume, RSI trending up above 50 ,PPO crossover & Improving ADX.
Harmony Gold Mining (HMY)
Copper is extremely parabolic. I'm sure there are excellent fundamentals for the extraordinary spike in the price of copper but technically it is extreme. On the daily chart both RSI and PPO are trending down but the price haven't pulled back much. Copper is forming some kind of triangle pattern...