*Dow Theory Letters, by Richard Russell, May 26, 2009
“The important thing to know about gold is that it is in a primary bull market. The monthly chart below shows the path of gold along with a blue 50-month moving average and a red 200-month moving average. The red arrow marks the ‘golden cross-over’ where the rising 50-month blue MA crossed over and above the rising red 200-month MA. The crossover occurred in May 2005. I took the monthly crossover to confirm my thesis that gold was in a long-term primary bull market. Note that the two moving averages have been rising ever since the crossover. Note also that, significantly, gold has held above its 50-month MA ever since the May 2005 crossover.”
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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