I think this indicates gold is about to test all time highs based on this kind of chart.
Someone else pointed this out on social media and I've had a closer look at it.
A perfect inverse head and shoulders.
Cleared resistance at 1700, got thrown back and then broke through again.
It becomes apparent now that a lot of ASX gold producers are showing a similar, albeit more volatile, pattern. I posted about Regis RRL.AX earlier today. Same pattern except REGIS was in a down trend.
Just thoughts I can revisit in a few months to check for reliability.
Someone else pointed this out on social media and I've had a closer look at it.
A perfect inverse head and shoulders.
Cleared resistance at 1700, got thrown back and then broke through again.
It becomes apparent now that a lot of ASX gold producers are showing a similar, albeit more volatile, pattern. I posted about Regis RRL.AX earlier today. Same pattern except REGIS was in a down trend.
Just thoughts I can revisit in a few months to check for reliability.
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