RGLD...Next Stop $40?

RGLD was up over 6% today on good volume. If you look at the above chart which is a 3 year weekly chart of RGLD you can see that it is clearly in an uptrend. For an upside target I'm looking for a retest of the January high of around $40. Notice in the lower panel we have RGLD divided by the $XAU index.. This ratio compares RGLD to the gold stocks index. If the line is sloping upward that means RGLD is outperforming the index or most gold stocks. You can see that the line has been moving up nicely from point A to B and is really starting to accelerate now. I think RGLD will continue to lead the gold stocks higher.

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trading, stocks, investing, commodities, gold