The $BPGDM index is giving multiple buy signals.
Starting at the top, the RSI for the index is going above 70. thats bullish. The purple shaded area (SPURS) has broken a downtrend. That's bullish !
The crossing of the index above the 8 ema is bullish. But finally a parabolic sars buy signal occured today.
Just to confirm it all, the MACD moved into positive territory.
Put money in and forget the stop? Definitely Not!!! We are in an unprecedented period of government intervention in the markets globally. Make sure you are protected against adverse affects.
To buy this trade, you would buy XGD.TO or HGU.TO, or HBU.TO.
Good Trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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