Friday, 20 February 2015

Update on CEMIG stock, US ticker CIG

Well, since I wrote my comparison of gold's 2013 action to the 2012 action of stock of CEMIG, CEMIG has had a big rally and gone on to new lows.

As I write I am also looking for other stock charts that resemble gold's recent bear market action.

Modified chart from my original post:

For CEMIG action as of 20 February 2015, see below.

First in US dollars and secondly adjusted by the US dollar to Brazilian Real exchange rate. The results are similar.

Lower lows and an uptick in the highs too, a megaphone pattern but no new all time highs. Watch out, goldbugs!

Actually gold is still right near the equivalent low of the CEMIG chart in November 2012:

Might this happen to gold?

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