Wednesday , 20 February 2019

Gold Chart Says A Massive Move UP or DOWN Is Imminent

Gold is currently trading near a critical level, from where aMultiple-forms-of-gold-bullion massive move up or down is imminent. One of the measures that illustrate we are a close to a big move, is the following resistance line on the gold chart…

Written by Hubert Moolman

Below, is a gold chart (from with the resistance line indicated:

gold rice chart critical point

The red line is the critical obstacle that the gold price has to overcome, for the continuation of the gold bull market.

  • Since price has now failed more than four times at the line, there is a great chance that we could see a big drop.
  • If the price is to turn around and break through the resistance line, then a great amount of energy is required to fuel such a move – and that can only come from a collapse of a big market like the general stock market, or the bond market.

In my view,

  • it is clear that the next major gold and silver rally will be driven by a stock market collapse.
  • When gold breaks through the resistance line, we will see a gold rally like that of 1979/1980.
    • In fact, there is a peculiar fractal that suggests the current situation for gold is very similar to that of May 1979, just before the massive rise in gold – see the following long-term gold chart (which is self-explanatory):

gold long term edited

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