gold, page-104601

Gold trading nicely above US1800 which is very positive considering the expectation of a number of interest rate rises in the US this year. The chart shows the balance between a longer term downtrend from the August 2020 high with the shorter term uptrend from the double bottom in March 2021.



The 50 day moving average (blue) has moved nicely above the longer term 200 day moving average (black) signalling a Golden Cross.


Explanation of golden cross from Investopedia: https://www.investopedia.com/terms/g/goldencross.asp


What does this all mean. Well, we've had a few false starts with the gold price succumbing to selling every time it's tried to break upwards. However, the fact that it keeps bouncing back provides me with confidence that a genuine upside breakout is coming. Also, the relatively short down trend from the all time highs provides a great set up for a longer term move upwards in my opinion.

It also forms a perfect handle for a long term Cup and Handle pattern over the weekly gold chart which is extemely bullish in my opinion.


https://www.investopedia.com/terms/c/cupandhandle.asp

So Gold price is looking very healthy (IMO) and could be about to enter a new era of Out Performance!