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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday, 25 October 2014

Gold

This square is 2 years (720 degrees ) and 1200 points.There was a bullish twin towers pattern at the recent  low but the last two weekly candles have bearish tails. On the daily chart I would watch to see if it can manage a bullish cross on the 20 and 40 day moving averages.Breaking 1200 again would be a problem for bulls




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8 comments:

  1. Anonymous25 October 2014 at 18:05

    Thank you for taking the time to do a gold analysis. I would generally think with all the unrest in the world gold would be a safe bet but I see a repetitive descending triangle that worries me. I see where people are calling it a triple bottom and solid support but if it gives way this time it may take us to the 1200 area in a hurry. Chart: http://screencast.com/t/yQxTQplWWW

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  2. Chartrambler25 October 2014 at 18:52

    you're welcome.I have to admit I feel the gold price is going lower before we hit a major low.The "deflationary" environment (look at the oil price) is not supportive but I do think any weakness from here is a great oppurtunity to scale into physical.For me gold is primarily going to be about hedging the coming sovereign debt crisis which I feel is inevitable

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    Replies
    1. Chartrambler26 October 2014 at 11:30

      Bouraq (Trading Channels Blogspot) has a bullish take on the gold chart. Always has nice charts

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  3. Chartrambler25 October 2014 at 21:02

    http://www.safehaven.com/article/35573/gold-and-silver-respect-the-trend-but-prepare-for-a-reversal?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+safehaven%2Fall-articles+%28Safehaven+-+Most+Recent+Articles%29

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  4. Anonymous26 October 2014 at 01:54

    Michael Snyder - "The beginning of the end." W

    With Greg Hunter: http://www.youtube.com/watch?v=tW_QGuDchs8

    Site: http://theeconomiccollapseblog.com/michael-snyder

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    Replies
    1. Chartrambler26 October 2014 at 11:28

      I',m trying to cut down on the doomer stuff..duh :-) !!

      Delete
    2. Anonymous26 October 2014 at 14:19

      Lol See what I can do. I guess the hybrid Flu/Ebola vid is a no-go. (Skeptics laugh so hard their eyes bleed anyway.) W

      http://comicsidontunderstand.com/wordpress/wp-content/uploads/2010/04/cheneypark.png

      Delete
  5. Chartrambler26 October 2014 at 22:27

    Lol.....reposted at FAM's to keep the memory alive :-)

    ReplyDelete

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