You Down With UUP? Dollar and Gold Decoupled Today, GLD at Ascending Triangle Inflection Point!
6/03/2010 04:18:00 PM
Continued from my previous post Who Decouples Next with a bunch of charts. Look at the GLD/UUP relationship widen today. UUP is preparing for a ceiling breakout (or failure) in a mini ascending triangle and GLD just took out the 20 day moving average and mini uptrend on the 30 minute chart. GLD is trying mercifully to break above the December high and through the year long ascending triangle. If the Australian Dollar wants to take down Gold, so be it. These are near term technical indicators but could be part of a major confirmation signal soon to come. Charts below are courtesy of FreeStockCharts.com.