Loading ...Gold Breakout revisited
Here is another “Surf City Original” for some weekend fun.
I created this chart back on Feb 11th, showing the Bull Breakout but this chart has a bit of everything on it.
Shows the classic Weinstein stage 4 progression of the Gold market over the last 16 years: Note how he 30ema, on the weekly, transitions Gold from a Weinstein Stage 2 Bull (2010-12) to a Stage 3 Topping (2011-12), to a Stage 4 Bear, to a Stage 1 Basing period (very short), and full circle into a Stage 2 Bull Breakout.
The 30ema should now be very strong support for future IC Lows, if we ever get one. 🙂
Also shows the pitchfork down trend out of the Top and the last several years of Intermediate Cycle Highs. Just a thing of Beauty, that Breakout.
Its time to Ride the Bull. 😉
Excellent chart, Surf City. Thank you.