Monday, January 1, 2018

Yellow Dog

It's the night
My body's weak
I'm on the run 
No time for sleep
--Christopher Cross

According to the Chinese zodiac, 2018 is the year of the dog. If gold were a canine, I wonder what kind of dog it will be this year. Will it be a mangy mutt that lays down on the floor? Or will it be a sleek greyhound that runs like the wind?

Longer term technicals suggests gold may be readying for a race. The multi-year downtrend line has been broken. Over the past few months, gold has been consolidating in a flag pattern. Gold's direction out of that taper should be telling.

Is gold about to leave the dog pound?

position in gold

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