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For several years in this column, we have been reporting on the action of the OBV in the Comex gold futures as it has done an excellent job of staying positive throughout gold’s dramatic, multi-year rally. For those who have not read some of my earlier articles on the OBV, I look for whether the OBV is leading prices higher or lower. On the chart above, I have noted some of the new monthly highs in gold’s OBV as this confirmed the June highs and still looks positive.
Tom Aspray, professional trader and analyst, serves as video content editor for MoneyShow.com. The views expressed here are his own.
