I have rarely found such clear and bullish chartist signals on an asset, moreover on the reserve of value to possess, gold.
1) Short-term small Falling Wedge: first short-term bullish target, see graph on the right.
2) Ascending Triangle, drawn in red on the left graph: 2nd Bullish target, the most obvious in my opinion!
3) Large Falling Wedge, drawn in blue on the graph on the left: 3rd Bullish medium-term target.
4) Large Cup & Handle, drawn in golden yellow on the graph on the left: 4th Bullish long term target.
Highlight of the show: the media are currently saying that most of them sell their gold! I buy their fear!
DISCLAIMER: This is not an investment advice. Invest only what you can afford to lose.
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In addition to my analysis, the gold price seems to be currently benefiting from a bullish breakout of a historic bearish parallel channel (2011-2019), represented hereinafter in red, and more visible at the logarithmic scale.
Channel that seems to me to be a Flag simply marking a pause in a global trend... bullish!
And breakout supported by MA 200 once again support!
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It was not until December 20, 2019 that we finally managed to get out of the falling wedge, but my short term target (bottom graph) was reached as quickly as expected.
I am therefore still as optimistic for the Bullish Cup & Handle long term (top graph).
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Bullish Target of the Ascending Triangle reached. 1st step validated.
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"LONG / I've never been so bullish on gold !" Oct 25, 2019
BITCOIN, GOLD AND REAL ESTATE, the 3 best investments of my life :)
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Back to my trendline for the corrective handle. 2nd step validated.