Looking for a pullback and last test of long trending Symmetrical Triangle. Daily RSI readings have gave us insightful hints as to when Gold has been overbought and oversold. Currently we are at midline, however the trend is lower.
Compute the height from the highest peak (point A in The Measure Rule figure to the right) to the lowest valley in the pattern (B)...
Chart
Monthly bullish triangle is forming, and prices have managed to hold the 20-month simple moving average this week. Historically, the 20 SMA has been a very good support level - outside of the late-2008 correction that managed top hold the 40 SMA. RSI tends to bottom around the 50-level on these corrections - which is close to where it is at present. The...
Gold chart suggest we are nearing a critical point. People have long debated what is in store after Central Banksters exhaust all there abilities. The two prevailing speculations are that either the global economy will reach a liquidity trap or all the action from the Central Banksters is lagging and we will eventually trigger inflation.
What is a Liquidity...
The falling wedge continuation will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
1. Prior Trend: To qualify as a reversal pattern, there must be a prior...
GOLD's melting point is 1064 C ...so is does melt
Yes, GOLD broke out of a major triangle and put on the glorious shine.
But it certainly feels overheated now with momentum running little out of steam, produced a rising wedge formation
accompanied with a negative divergence.
The trend is up and could make another new high in this move, but this only means the...
