Gold in the 21st Century Chart

Gold Long Term

Long Term Trend ~ We’ve shown this chart before.

The key is the action we saw at the 21st Century Channel line and the subsequent reversal higher. Odds continue to favor the major low has taken place. Long term support is that upper black dotted line at 1050-1087 area and then the lower dotted 21st Century uptrend line in the 850-1000 area. We’re right near resistance on the monthly chart at 1272-1294. The key is getting above the 2015 yearly high at 1307. Thus resistance is 1314-1322 at the Fibonacci 89 month moving blue average and the 2011 downtrend line at 1425-1450. These are the last resistance areas until final Fibonacci resistance in the 1530-1550 area.

In summary, long term gold is getting very close to taking out major resistance points.