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Dabble010

4,199 Posts.

1417

15/10/23

13:58

Post #: 70352318
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Originally posted by Pointyfigures: ↑

If the XGD hits 7,000 (Monday?) which is about 6.5% higher, we have a breakout above a triple top on the short term chart.
We also have a breakout of consolidation on the longer term chart.
And the double bottom in the US gold price is confirmed. Needs to continue to $1,963 to break out of consolidation on the short term chart.
The last time we had a double bottom on the US gold price chart near trend, we went from $1,460 to $2046 with no more than 6% pull backs.
It is on the chart I posted on 3/10.
There is still a bit of resistance around on some charts but not far away from blue sky.
Interesting how much difference 2 weeks can make.

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Unsurprisingly the price hasn't followed to the parroted calls of the old hat gold bear of this thread.
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0 Great analysis

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