Here's a very simple analysis of the longest living money on Earth — gold! This is the weekly gold futures chart, which extends all they way back into the 1970s. You can see that there is a rising blue trendline, which originates on the peak of 1980 and connects with the peak of 2011. Considering the bullish bowl formation that gold has been forming for the past seven years, and the underlying economic circumstances, I think it's only a matter of time before gold explodes higher, eventually testing this rising blue trendline resistance. I anticipate that it will happen somewhere in the 2200-2400 range, but that depends on how long it takes for gold to get up there. The sooner it happens, the lower the price will be, since it's a rising trendline. In any event, I anticipate that it could happen somewhere around that green circle. Doesn't get much more simple than that. =D
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
trading is so easy, just one trend line you can become a millionaire.
LimeGold
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@Dan_Wang, oh yes, but its still an art how one draws it.
Vlusion
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@LimeGold, And it is even correct as wel at the time :P
without_worries
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You're bullish when monthly RSI is at 77?
Look left... look at the RSI assent trend support line on the chart below and compare with history - it seems to me we've not seen such a rapid assent since 1980, look what happened next.
ReallyMe
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@without_worries, a lone voice of reason in the midst of TA madness
@IVAN.dinkoff, It'll still happen! Timing the tops is a fools game - will waiting at $1000 - purchasing dollars makes more sense right now, especially as they are no long printing them, in fact they're erasing them.
mikemusa
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magic poop cannon : where have you been ?????? we are lost without you !
bziaean
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May I ask you to be more active to use your excellent idea in trading .