Bullish on Gold Long

Gold FuturesCOMEX

Description

⋅ Oct 27, 2015 12:21 PM

Nice bullish flag pattern for Gold. We have a very strong uptrend which has consolidated nicely. It looks like a breakout may be imminent. In fact, due to the tumult in the market and currencies, I am surprised we have not seen it earlier. Perhaps it will capitulate at 2PM tomorrow with the FOMC minutes.

Comments

quantguy

⋅ Oct 29, 2015 10:24 AM

I see where you are coming from. If you noticed, after I posted this, we did see a nice bullish breakout followed by a bit of a correction the day after. The fundamentals suggest it may be a good time to buy gold. See this article for example
businessinsider.com/china-investors-pulling-out-of-stocks-and-into-gold-data-2015-10

wenshan

⋅ Oct 28, 2015 6:42 AM

i think bearish,not bullish.

LowYiQian

⋅ Oct 29, 2015 10:17 AM

agree,if u see it in daily chart u will suppose found that bearish sign