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Gold and the 2011 downtrend line

IMG Auteur
Bill Downey
Gold Trends
Published : May 01st, 2017
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Category : Market Analysis

GOLD

Medium term

We continue to favor our forecast from last year for a Dec 2015 or March 2016 low in gold remains valid. We were successful in calling the exact month (Dec 2015) as the gold low but now we want to see the 2011 downtrend line taken out. It’s the last downtrend line on the chart and until it gets taken out, gold can continue its pullback. We’d like to see two monthly closes above 1388 (the 2014 high) to put confidence that the next leg up in gold is underway.
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
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Bill Downey is the editor of www.GoldTrends.net where he monitors the price patterns on an hourly, daily, weekly and monthly basis. He offers commentary on what it all means along with support and resistance levels along the way in advance of each day's trade. If you would like to join for 30 days he offers a free trial. Visit his website home page for details.
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