Saturday , 27 May 2017


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 tradingview.net) 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

Thanks for reading! Visit our Facebook page (here) and “Like” any article so you can “Follow the munKNEE” and get future articles automatically delivered to your feed. We’re on Twitter too!

Win An iPad Pro!

TalkMarkets.com is so convinced you’ll love their website they are raffling off an iPad Pro to those who registers here by June 30, 2017. For more information please read the contest Terms and Conditions.
975 authors contribute to TalkMarkets.com so check it out, register here and then program the site to provide you with exactly what you want by topic and author. Check out my profile & articles on TM here.
If you want more articles like the one above: LIKE us on Facebook; “Follow the munKNEE” on Twitter or register to receive our FREE tri-weekly newsletter (see sample here , sign up in top right hand corner).

Leave a Reply

Your email address will not be published. Required fields are marked *