Gold has now completed its reverse head and shoulder formation. This can be seen when plotting gold price itself (first graph) or when plotting the price of GLD(the second graph), one of the gold funds. I have used the 9 day moving average to smooth the daily data.
In order to try to pin down WHEN gold will break out of its post-reverse head and shoulder, I used the graph of GG, the second biggest gold-miner in the world. My task had to do with finding the wedge from which the stock price will stage its break out. As you can see, the wedge could be drawn in two-three ways and it points to sometime early May.
Ready?
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