"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Wednesday, May 18, 2011

Daily View of Royal Gold

We have tracked the weekly chart and thus far seen RGLD through a test of the breakout support level.

The daily shows a classic bullish flag breaking to the upside today.  Now I know the program calls for bearish in the gold sector, because sentiment is in the dumper.  And no, I am not overly bullish myself in the near term beyond a rebound.  But still, the RGLD bellweather situation makes one think about keeping an open mind .

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