In my opinion, it is a resounding YES !
Please refer to my updated SPX500, Nasdaq and DJIA charts later and you will see that the bulls are getting exhausted as the climb gets steeper. Nasdaq , offering the best returns thus far is registering an ascending wedge pattern and the price action is consolidating within a tiny wedge before it breaks down.
Rightfully, the price action has to come down to take a breather before going higher. And if this prediction is highly probable, then traders and investors would do well to put their money into Gold and Silver.
Gold 1H chart shows support at 1781 and this would be a good accumulation (long entry) point before it shoots up higher to 1800 level.
We are bullish on Gold, Silver and selected Gold stocks.
Please refer to my updated SPX500, Nasdaq and DJIA charts later and you will see that the bulls are getting exhausted as the climb gets steeper. Nasdaq , offering the best returns thus far is registering an ascending wedge pattern and the price action is consolidating within a tiny wedge before it breaks down.
Rightfully, the price action has to come down to take a breather before going higher. And if this prediction is highly probable, then traders and investors would do well to put their money into Gold and Silver.
Gold 1H chart shows support at 1781 and this would be a good accumulation (long entry) point before it shoots up higher to 1800 level.
We are bullish on Gold, Silver and selected Gold stocks.
Comment:
At 2000 hours last nite, it created a false break down only to spike up the next hour.
Comment:
we are 50 points away from reaching the all important 2000 price level