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Sunday, September 29, 2019 10:57:49 PM
Gold - Weekly Wrap »» Daily-Weekly-Monthly Charts
By: Carl Swenlin | September 27, 2019
* (Click Read Full Story »»» at the bottom of the page for the charts to appear on the post)
GOLD
IT Trend Model: BUY as of 6/3/2019
LT Trend Model: BUY as of 1/8/2019
GOLD Daily Chart: The head and shoulders formation is starting to look serious, and price is about to break down through the neckline. We could be in for a period of pullback, but as long as the support at 1375 is not broken, the bullish case for gold will hold.
GOLD Weekly Chart: We can see the next level of support is at 1450. The weekly PMO has topped, which is not a good sign. It may take several months of pullback/chop to consolidate the last 12 month's gains.
GOLD Monthly Chart: An important breakout took place this year. The extended period of chop I anticipate may put a handle on the saucer formation, which would be positive.
Read Full Story »»»
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By: Carl Swenlin | September 27, 2019
* (Click Read Full Story »»» at the bottom of the page for the charts to appear on the post)
GOLD
IT Trend Model: BUY as of 6/3/2019
LT Trend Model: BUY as of 1/8/2019
GOLD Daily Chart: The head and shoulders formation is starting to look serious, and price is about to break down through the neckline. We could be in for a period of pullback, but as long as the support at 1375 is not broken, the bullish case for gold will hold.
GOLD Weekly Chart: We can see the next level of support is at 1450. The weekly PMO has topped, which is not a good sign. It may take several months of pullback/chop to consolidate the last 12 month's gains.
GOLD Monthly Chart: An important breakout took place this year. The extended period of chop I anticipate may put a handle on the saucer formation, which would be positive.
Read Full Story »»»
• DiscoverGold Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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