Gold, Gold Shares, Gold Miners - Strong Uptrends: Golden Ratio

51 0 3
Gold-remains strong. Using GLD-as a proxy for-gold, the gold-charts suggest a retracement before another up move.
Yes - there seems to be HARMONIC PATTERNS in the-GLD complex.
Is this true.....The Golden-Rule?
"Price onto others as the golden-Fibonacci prices onto you?" (My son would call this phrase a lame dad joke).

All kidding aside, there seems to clearly be harmonic patterns in-GLD. Very symmetrical indeed.
As I see it, the trend remains up and should resume after a brief consolidation. Look for Fibonacci .618 ($124.91) as a key support level . The next level is $123 (50%).
As you can see in the chart above, the relative strength (top indicator) is approaching oversold. This should reverse at Fibonacci .618 ($124.91). Look for confirmation in the phase energy as this drifts to the zero line.
My opinion: gold-is strong because central banks are running out of stimulus. Negative interest rates in Japan, and now Germany. Very hard to imagine.
It is no wonder that there seems to be a rush to gold-and-metals (via GLD-XME-GDX-HL-GORO-NEM-many other gold-miners, etc.).

I would like to close with a quote about perfection and charting. Charts deal with probabilities, never perfection. My favorite perfection quote come froms the late, great Monday Night Football commentator, Don Meridith. His former coach (on the Cowboys) was Tom Landry, who was a perfectionist. Don Meridith said of Coach Landry:
“He’s a perfectionist. If he was married to Raquel Welch, he’d expect her to cook.”

I hope this has been entertaining and informative. I hope all of your trades go well. Don.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out