Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

Click for more information

0.51%

$1,391.7 gold futures

gold, page-102915

First 102915 Last

Share
Profile

Follow
Skol

32,985 Posts.

1378

21/11/21

15:07

Post #: 57733608
Share

Originally posted by snakesnladders: ↑

What a load of rubbish. Anyone can see the trend is down but putting trend lines anywhere you fancy is useless.
The above is an example of trend lines that can be used to give an indication of what the silver price is likely to do.
You will see that they touch the tops of both resistance and support lines and there must be at least three touches. Otherwise they serve no purpose. In fact they would be as useless as the so called "trend lines" you display.

This formation isn't a complete descending wedge because the price is too far from it's axis. However if the trend lines are penetrated, and preferably on good volume, then the price is likely to continue up if the resistance line is penetrated and down if the support line is penetrated.

Expand

Anyone can see the trend is down....
==============

99.9% recurring of goldbugs can't see that the trend is down. To them it's a minor inconvenience on the way to $10,000 or even US$30,000.

The goldbug world is one of looking through 'rose tinted glasses'.
Upvote

0 Great analysis

Reply

There are more pages in this discussion • 23,639 more messages in this thread...

First 102915 Last

Add GOLD (COMEX) to my watchlist