Saturday, June 24, 2017

Gold Bull Support Limit

Its rises with time!

Using the Straight Line method, for Gold to remain in a bull market, the current Primary Uptrend must hold.  This is because the previous Primary was breached without Gold then reaching a new high.  One such break is allowed, and that was the one! The present value of current support is 109 (GLD) or about 1154, and it rises at a constant rate as time unfolds.

Some folks speculate that the precious may go below even today's limit, which would bring into question whether Gold really is in a bull market.  My thinking is that there will be good support at around 1200.  Also this oddity: the Trump Range overlaps what some chartists call the Creek, which is an apparent coincidence.  Go GOLD!

In a Curved Universe
the Straight Line is King!

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