Gold – Long, Medium and Short Term Analysis

There is presently no excitement about gold. Gold Monthly Chart Take a look at the monthly chart: First, look at the channel that has been formed over the past 20 months or so. Gold has continued to trend downwards within this channel. The ADX indicator is firmly bearish, with the -DI line above the +DI line. However, the ADX line itself, has been working its way down from a strong … [Read more...]

Gold…Daily, Weekly and Monthly Analysis

Peter's Commentary: Here's the daily chart of gold: A reverse head and shoulders pattern is currently in play. Gold broke up from the blue neckline early in January, and then late last week came back down to the neckline. This is a classic head and shoulders pattern that is seen at market bottoms. These normally have about a 90% chance of working out. The upside on this pattern is at … [Read more...]