Loading ...Taking A Breather ?
I keep remembering the global gold price breakouts (to new highs in some cases). That just doesn’t feel bearish to me, so I’m going with my thesis unless we start to break some of the support lines in the following charts. I marked a zone on many of my charts that we’re now up against. Nothing will be proven unless we break crucial support or climb clear of $1400. Wall of worry ?
I hope you’re right NS, but I fear a pretty substantial correction is ahead of us. Which support lines on your charts are most critical and how far down do those support lines reach?
As always, thanks for your chartology.
The longer the support line goes back, the more important it is in terms of long term trend. I’m not bothered at all about short term moves. I’m holding until the top of the cycle in the mid to late 2020’s. The line on the last chart that goes back to 2001 is vital for a continuing bull ($1210 and rising).
I know its a cliche, but surprises in a bull market are to the upside. Especially on bull market Fridays. 🙂 Yep, that wall of worry is growing higher.