‘gold’ Archive

Gold- Dual resistance could be heavy, says Joe Friday

joefriday gold dual resistance march 18

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The above chart looks at Gold over the past 18-years. We applied Fibonacci retracement levels to the lows in 1999 and the highs in 2011.

Gold peaked in 2011 and declined to its 50% retracement level at (1) above. This means it gave back half of the gains it achieved …

Gold/US Dollar experience “Death Cross” & support break this week!

dollar gold ratio breaking support march 17

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The above chart looks at the U.S. Dollar/Gold ratio over the past 25-years. From 2001 to 2011, the ratio headed sharply lower, reflecting that the US$ was much weaker than Gold for almost a decade. Starting in 2011, the ratio has turned up, reflecting that the US$ has been stronger …

Gold- Dangerous reversal pattern at channel resistance last week?

gold doji star reversal pattern at resistance mar 15

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Gold has rallied over the past couple of months, taking it to the mid-range of a 5-year falling channel at (1) above. This chart is a weekly chart and last week while hitting resistance, Gold might have created a potential “Doji Star” reversal pattern, at (1) above. This pattern took …