Dow looks down, gold looks up
Breakouts in opposite directions as markets remain confused
WHILE SOUTH AFRICA’S and stock markets overseas remain in turmoil, we present an interesting chart of the Dow Jones industrial average, showing what to expect over the coming months. We also update a chart of the gold price, shown in this column a few weeks ago. A very significant development has taken place there. Indeed, we have breakouts in opposite directions. The Dow has broken to the downside, indicating more weakness ahead; while gold has broken to the upside – and pointing to a significantly higher target after a pullback.
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