Gold breakout anticipation

Compared to crypto currencies, which have gone mental spiking upwards the yellow metal has been, you could say, lack lustre by comparison.

But gold remains an important asset in these times of central banks gone rogue. Unlike crypto currencies, gold is proven for millenia and crypto despite the hype is yet to be really proven over long time periods. It is prudent not to ignore gold and silver completely.

To really turn bullish gold needs to get above this bearish channel, shown here with log price scale and 1week candles

Gold has tested this line multiple times and looks set to try again. Can this be the time? With a bullish inverse head and shoulders pattern in the mix, gold might really annouce that its new bull run is under way with a move up towards $1500. If gold can’t break through that line then I guess another dip will come.

Heres a closer view

2 thoughts on “Gold breakout anticipation

  1. Sorry didn’t reply before. My thoughts on that are its the same old same old suppression of silver. Silver which of course has often been used as money but the powers that be don’t like alternatives to their debt based fiat ponzi

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