Peter Brandt is a level headed PM Analyst
www.scribd.com/doc/244253053/Chart-History-of-Gold-Market
Peter Brandt is a veteran commodity futures trader with no particular axe to grind as to the future of gold. Above is the link to his charts and background. It’s a free site and think you’ll find it of interest. Take aways:
“After charting and trading Gold for more than 30 years, I have come to three major conclusions.
1. Gold is the purest of all markets to trade. This is probably because there are no real
fundamentals in Gold.
2. Gold is the truest charting market that exists. When the Gold chart speaks, a trader needs to listen and listen carefully. Chart patterns are extremely reliable in Gold. Of course Gold provides its fair share of false chart signals. But, when a chart fails in Gold there is usually a lesson to be learned. The lesson most often deals with patience, or lack of the same. Failed chart patterns in Gold combine into much longer-duration chart patterns that will eventually work.
3. Gold does not make large moves without first ringing a bell. Big moves in Gold are announced.
* The next bull market (on a monthly scale) in Gold (if and when) will be ushered in with a
clearly recognizable pattern. No such pattern exists. Thus, my quess is that Gold will go to
new lows for this bear phase with a breach of 1,000 very possible.”