GOLD is hitting long term support now. Contained within a ascending broadening wedge.
The GDX ist moving downwards again, which is the primary direction we are expecting this market to develop. With this turnaround, an alternative surge is now neutralized and we now need to wait for the course to reach the area around $22.51, where we expect the next turnarund - but this time to aim for rising prices. It remains important here that the course does...
Likely bounce off Ascending Wedge bottom.
Gold (AUD) daily - Hopefully we have hit a bottom. Bullish divergent RSIs.
GOLD - Cup and Handle formation. Very Bullish! For shorter term, yellow channel range bound. Breakout likely to the upside.
Gold (AUD)- Similarity of post-2008 GFC to Post Covid-19 Post crisis stimulus and slashing of interest rates, provides a tail wind to Gold.
Gold (USD) daily- Cup and Handle (Potentially)
Gold (USD)- Bullish falling wedge support.
Gold (USD)- Bullish falling wedge. 68% of eventual upward breakout from falling wedge. For further details, please see below link: thepatternsite.com
GOLD (AUD) daily nearing support uptrend line
Gold (USD) daily- Upbreak coming.
Gold (AUD) daily- Rising Wedge pattern. thepatternsite.com
Updated- GOLD (AUD) daily chart. Still in UpTrend for now.
Gold (USD)- Support on blue line.
GDX like gold is looking to break out to the moon, but is that party going to be put on hold for now? Both Gold and the GDX are showing some bearish divergence (shown in chart), they are moving higher in price on lower momentum. In fact most indexes are showing this, not just the gold market. We are going to need a lot of rocket fuel to get to $47 for GDX and...
Gold (USD) daily- $1,800 and $1,923 target levels.
We can see from this chart that price is ready to drop! It has hit a key level of support and bounced off, it has tested this area several times before going higher each time. The last time this level was broken it was a freefall to the bottom.. The next time the drop may be even greater!! Get the sell stops in!