kaotic363

kaotic363

While gold has now backed off after touching $1200 this week, it should be no surprise that prices are starting to correct after a $150 run from the December lows. Early February is also a seasonally known time period for a correct to develop which usually into late-February or March. If we have a look at possible retracement patterns, we could expect gold to...

kaotic363

If we take a look at the history of gold movements during its two generational bull markets ,we can easily see that gold tends to make a major retracement in price before continuing upward and establishing new secular highs. In the mid-1970's, just before gold when onto breakout over $200/oz., gold corrected roughly 46% from its previous highs and in the process,...

kaotic363

Gold (in USD) appears to be trying to breakout from its 4+ year downtrend. In my view, there is solid evidence that gold will attempt to breakout but we need to see the following occur first: 1. 7EMA needs to cross through the 41EMA on the weekly timeframe. 2. Gold needs to breakout and hold over $1200 3. A series of higher highs and higher lows over...