Model Portfolio: Signal Change: Now Exit Short (9/19) from Short Signal (7/31)
Technical Read: Okay, here it is: the gold mummy signals are no longer bearish but are now neutral (AKA flat). This is not the same as a trend change to bullish but simply indicates the trend is indeterminate and that gold traders should consider pulling the plug on their shorts. Momentum indicators have moved from bearish to overextended. This is primarily a technical call and I have no new ‘backdrop’ bullet points to share for now. Tip: Don’t let the gold mummy grab you!
GH Garrett – Veteran Commodity Watcher for Conquer the Mummy.com