$Gold Line charts 3 times frames
Here is Gold Flag in 3 time frames (line charts): daily – weekly – monthly.
Although Weekly BO its thin blue line (as Fully presented) … it is against HOR.RES but Gold certainly did NOT BO-UP the thick RED HOR RES @ 2025. Meanwhile do we observe a Bearish ascending Triangle on Gold-weekly?
Strangely on the Daily chart, Gold did NOT-BO-UP the thin blue line until above 2025; hence line chart.
On the Monthly chart, Gold also did NOT-BO-UP and only will once we have a monthly closing above 1987. While during 2022, Gold BO-DOWN from 1950 all the way down to 1650, Gold might even be in a HARD BT from below while this or next month tagging 1987 for a DT (double top). How often have we seen this type of set-ups before crashing down – extending eg. delaying a down turn (read: Ai)?
Does this all matter, well potentially it does as these charts still shows that $GOLD is against RES and potentially even forecasting that a TOP is near potentially a DT (double top or triple if you like), while we observe some bearish patterns.
The only thing that matter is PHYS and these charts ain’t pure as it presents paper. Choose your reality!
Have a Great Weekend.
Thanks, Nightingale. Your charts should give everyone pause in the midst of a minor stage of euphoria.
Yes thanks NG….always look both ways before you cross Discrete 🙂
One reality includes the fact that Gold has Broken OUT in all Correncies and is on the verge in US Dollars
So is that Resistance or is that inevitablity ?
Gold trades on the World market in USD. USD is ‘still’ world currency’ … therefore, Gold in USD rules – IMO.
Agree of course BUT with Gold breaking out all over the world THAT has to be a Leading Indicator IMO
Sure about that? I think we had the same situation in the run up to the ATH in 2011.
Yes And the difference between 2011 and now is this time we are on the verge of WW3 and a Banking Collapse and Sovereign Debt Crisis and Civil Unrest all over the Planet including in the USA if Trump is Indicted …all of these things are the reason we bought Gold…so yes I am sure about that. Absolutely !!
That’s why I call it Fully’s Fearless Freedictions
🙂