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Hurstbands

GLD Overbought, but Could Become More SoGLD has become overbought as shown by the Hurst Bands. Price could possibly exceed the overbought Hurst Band (pink colored band). The Starc - (minus) Band has crossed over the middle (light bluw) line of the Hurst Bands. This is typical when price action begins to become extreme. It does not mean that the extreme price action cannot or will not continue for a while longer. I'm thinking it probably will. Price is approaching the top of the Keltner Channels (blue bands) which indicates strong price momentum to the upside. Of note is the dark blue plot of the U.S. Dollar Index (DXY) price. As the dollar price has moved down from $86.74, the GLD price has recovered. As the dollar is at extreme overbought levels (not plotted on this chart) I expect it will continue to move lower giving GLD room to move up a little more. At the bottom is plotted the Hurst Oscillator. It is the same information plotted by the Hurst Bands in a little easier to read form. Overall, expect GLD to continue to move higher.
AMEX:GLD
by TerryKinder
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