"No warning can save people determined to grow suddently rich" - Lord Overstone

  • 14 mins Major League Baseball Turns To Blockchain Tech
  • 1 day Institutional Investors Hold A Lot More Crypto Than You Think
  • 1 day U.S. Treasury Yields Could Be About To Break Out
  • 1 day Tesla Stock Stumbles On Model 3 Cancellations
  • 1 day Yuan Rebounds At The Expense Of The U.S. Dollar
  • 1 day Iraq Unplugged: No Internet, No Protests, No Money
  • 1 day The Tariff War Could Spark A Debt Crisis In China
  • 2 days Gold Selloff Continues As Dollar Climbs Higher
  • 2 days Gold Investors In A Frenzy Over Sunken Russian Warship
  • 2 days The New King Of Electric Cars
  • 2 days BlackRock Goes Bitcoin
  • 2 days U.S. Banks See Best Earnings Report In Years
  • 2 days The Case For Gold Is Not About Price
  • 2 days Stock Market Sentiment Turns Bullish
  • 3 days What Is Bitcoin Really Supposed To Be?
  • 3 days The Surprising Media Giant Taking On Netflix
  • 3 days Cybersecurity Stocks Are Red-Hot As Election Looms
  • 3 days Americans Grow Weary Of U.S. Trade Policy
  • 3 days What Putin Really Wants From Trump
  • 3 days Europe’s EV Sales Growth Is Slowing
Stock Market Sentiment Turns Bullish

Stock Market Sentiment Turns Bullish

Quarterly earnings reports have lifted…

The Biggest Winners Of Q2 Earnings Season

The Biggest Winners Of Q2 Earnings Season

The second quarter of 2018…

Netflix Shock Hits FAANG Stocks Hard

Netflix Shock Hits FAANG Stocks Hard

Netflix released its surprising second…

Rambus Chartology

Rambus Chartology

Rambus Chartology

Rambus Chartology is Primarily a Goldbug TA Site where you can watch Rambus follow the markets on a daily basis and learn a great deal…

Contact Author

Wednesday Report...The Chartology of Gold

Tonight I would like to look at some gold charts as it has been showing some relative strength since October. We can even go back to February of this year which shows a possible big diamond consolidation pattern building out. Regardless of whatever trading discipline one uses the last nine months of price action has been difficult at best to read.

Gold Daily Chart
Larger Image

This next chart is a linear scale chart for gold which I think may be the most important chart to help give us a sense of the bear market that began in September of 2011. What makes this chart so interesting is the breakout and backtest to the top rail of the bear market expanding falling wedge.

Gold Daily Chart 2
Larger Image

This next chart for gold is the important moving average crossover chart which shows the four most important daily moving averages for gold. The green circle back in 2009 shows when they all became positively aligned and led to the parabolic run to 1920. Then in 2013 they all became negatively aligned to the downside which led to the bear market as shown by the red circle. It took three more years of bear market price action to finally get the four important moving averages bullish aligned again which occurred in April of this year.

Gold Daily Chart 3
Larger Image

This next chart for gold is an eighteen year log scale chart which shows the bull market uptrend channel that began to form back in 2000 or so. This log scale chart gives us a slightly different view of the bear market expanding falling wedge which shows the price action still trading below that important trendline. The 10 month ema has done a good job of holding both support and resistance during this now almost 17 year bull market.

Gold Monthly Chart
Larger Image

This last chart for gold is a 40 year look which shows a massive 27 year H&S consolidation pattern and the bull market uptrend channel that began in 2000. The bottom line is that as long as the bottom rail of the 2000 uptrend channel remains intact I will remain a bull. All the best...Rambus

Gold Monthly Chart 2
Larger Image

 

Back to homepage

Leave a comment

Leave a comment