After months expecting the bottom of at least around $1000, did the bottom came and gone without much of a BANG???
Gold has spotted the most perfect rounding bottom pattern, a long term reversal pattern.
In addition it had broken a triangle pattern where it had been moving around since mid 2013 as well as 50 weeks MA (200 days MA on daily chart).
Yes, that had...
Rounded top on dow shows change in momentum from up to down and this needs to have a healthy correction, odds are it will pop back quicker than the needed 10-12% correction but time will tell
See notes on chart.
3 week price change is 1.89%
PA could not form new highs all of AUG and PA is seeming to form a rounded top.
Price broke through support and and the trendline, but was pushed up by buyers today. wait on confirmation.
Buying DEC 130 Puts I think this gap will be filled before the end of the year.