Normalized Gold Chart
Aggiornato
This is Gold Normalized against the US dollar in arbitrary units, which solely highlights the empirical strength of gold and ignores the strength or weakness in the US dollar
I have also used Heikin Ashi to eliminate whipsaws for better trend identification,
and I've also added a regular GOLD/Dollar line in the background (purple) for comparison
The purpose of this chart is to point out that the recent bounce in (Gold/USD) has more to do with USD being weak than GOLD being strong.
This is an experimental method of objectively looking at the strength of GOLD, good luck trading :D
I have also used Heikin Ashi to eliminate whipsaws for better trend identification,
and I've also added a regular GOLD/Dollar line in the background (purple) for comparison
The purpose of this chart is to point out that the recent bounce in (Gold/USD) has more to do with USD being weak than GOLD being strong.
This is an experimental method of objectively looking at the strength of GOLD, good luck trading :D
Nota
Gold continues to trend lower, and the inherent strength of gold is also weakeningNota
Despite continued weakness in the dollar, this hasn't stopped Gold from decreasing on a normalized scale. And it seems like the dollar weakness is the "only" factor preventing the bulls from full scale bleeding. Should the dollar strengthen, there will be much more downside
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