‘gold’ Archive

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

gold breaking support of rising wedge may 24

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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

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 …