US$Gold versus A$Gold Monthly Charts ... Since their 2008 Lows(that's as far back as Investing.com chart go on the A$Gold).
Using a Modified Schiff Pitchfork chart on both, commencing from the same low BUT using different P2 and P3 pts to determine trend rhythm, note the US$ strength play to highlight the obvious difference in its current position vs where the A$ value. The US$Gold currently at its outer tyne resistance whereas the A$Gold only at its median tyne (pivotal) level. Normally, from a Charting perspective, both tynes are considered charting resistance levels when the SP is moving NNE. However, when currency consideration/movement is a prime ingredient in their calculations then you wonder what can happen from here(and basically, always)? Breakthrough on the topside or rejection from here?
To be honest I have no idea what will happen BUT will say that the tyne lines(primary and intermediate) on both charts seem to have been a 'clean' indicator for most swing points, whether for resistance or support, so I guess that's why I am posting these charts. I'll leave it with you to ponder...
US$Gold Month(since 2008L) ...
A$Gold Monthly (since the 2008L) ... Note here on this chart also that this month's strong move was from the 361.8% Fib extension level of its initial 2008/09 range ... Once we broke thru the 161.8Fib it gave us the perfect next swing pt at the 261.8Fib. Next objective ~ A$4200, the 4.236Fib extn?
US$Gold Mthly(since the 1999L) ... I include this as the Schiff Pitchfork Chart is almost identical as the one from the 2008L . So, in "rhythm"...
- Forums
- ASX - By Stock
- XSO
- The Brains Trust - 2024
The Brains Trust - 2024, page-2203
Featured News
Add XSO (ASX) to my watchlist
(20min delay)
|
|||||
Last
2,992.8 |
Change
-8.300(0.28%) |
Mkt cap ! n/a |
Open | High | Low |
3,001.1 | 3,020.8 | 2,990.9 |
Featured News
XSO (ASX) Chart |