This is a great time to take another look at the GOLD Market to discern it's real trend vs. the Media's confused array of voices. When we look closer using 'the tools of our trade', we find a wonderful coming together of several very Bullish factors. As with all such speculations, let us go to the Charts to see what they can tell us about the current price trend and status of Gold. (Click to Enlarge Charts)
BACKGROUND: As the chart above shows, we passed a very strong Gann Angle back in mid-October of 2018. It took prices almost two months to gather enough momentum to re-assert themselves in the upwards direction creating an new strong Up Trend for the Gold Market.
PRESENT PRICE STRENGTH: By applying WD Gann Angles, we discover that price momentum is resting just under the critical 45 degree angle at present. In fact, that 45-degree angle has served as a Resistance price point numerous times even as the price of GOLD was rising. Price is strengthening as shown by the distance to the secondary angle beneath the present price movement.
FURTHER PROOF: Our last chart to examine is the Point & Figure Chart for GOLD looking at the Weekly price levels to find a strong price trend.
What we discover is that on this weekly basis, price is actually ABOVE the 45-degree angle showing great strength and promise for the Uptrend to continue on the longer-term.
By the way, if you enjoy analysis like this for the markets placed within these Posts, please drop me an e-mail and let me know as well as what markets are of interest to you at this time. Best regards, George
Contact: George@wdgann-lost-secrets.com with your request and comments. Your input is greatly valued and appreciated. ~ George ~