Gold’s Monthly OBV Is Positive

12/23/2009 12:01 am EST


Thomas Aspray

, Professional Trader & Analyst

Click to Enlarge

Despite the recent sharp drop in gold, the long-term outlook remains positive as the monthly and weekly OBV did confirm the recent highs. A lower monthly close (below 1181) looks likely, and I would expect a complex corrective pattern before the uptrend can resume. Click here to review the key Fibonacci support levels.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on COMMODITIES

Keyword Image
Brent crude nears $70 on OPEC
03/19/2019 12:21 pm EST

Bullish crude oil fundamentals run into bearish technicals in the Brent contract, notes Fawad Razaqz...