Dow looks down, gold looks up

Break­outs in op­po­site di­rec­tions as mar­kets re­main con­fused

Finweek English Edition - - Creating Wealth - COLIN ABRAMS colin@the­mar­ket.co.za Tech­ni­cal an­a­lyst

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.

Please note: For more rec­om­men­da­tions and charts by the au­thor on shares, stock in­dices and com­modi­ties please go to www.the­mar­ket.co.za.

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