‘gold’ Archive

Gold & Silver- Biggest reversal patterns in years, says Joe Friday

CLICK ON CHART TO ENLARGE The above chart looks at Gold Futures, on a weekly basis, the past few years. So far this week, Gold is attempting to form a reversal pattern (bearish wick) at (1). This reversal pattern is taking place at the highs of 2015. If this pattern remains at the close tonight, […]

Gold- Two-thirds odds prices fall on a support break

CLICK ON CHART TO ENLARGE Since the peak in 2011, Gold remains in a downtrend, creating a series of lower high and lower lows. Gold’s rally in 2016 is attempting to break this 5-year falling trend, as it is attempting to break a series of lower highs. Over the past 6-months, Gold could be creating […]

Gold- Dual resistance could be heavy, says Joe Friday

CLICK ON CHART TO ENLARGE 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 […]