re: this is really interesting/misleading gold fig
Sure you have stocko....
Now to something really interesting....
If gold can hold above $330-340 for the rest of this month it will have done something it hasn't done in 25 years, since 1978 !!! - Post a price, on a monthly basis, that is above the 50% level of the preceding (major) high and the preceding (major) low ! After the 1980 highs there were at least three significant "attempts" to break above the 50% level, and each time gold retreated from a price very, very, close to 45% - 50% recovery. The last time gold posted a monthly close above the "50% level" was in 1978, on its way to the 1979-1980 peaks !
Simultaneously, it will also have broken above the upper boundary of a conservatively-drawn, descending channel that goes back at least 17 years to 1986, or before. [The chart I used was the 35-year chart in gold-eagle.com, but the trend line channels I drew were more conservative than the "BREAKOUT ! " line on that chart. ]
