Saturday , 20 October 2018

Place Your Bets: Gold Prices Will Break Out In 2018 – Here’s Why

…Gold just entered a new bull market but the price of gold has failed to garnergold rising any meaningful rally so, what gives? Why haven’t gold prices rallied?  Well, it’s just a matter of time.

 

 

The original article by Chad Shoop has been edited for length and clarity to provide a fast & easy read. For all the latest – and best – financial articles sign up (in the top right corner) to receive munKNEE.com’s free bi-weekly Market Intelligence Report newsletter (see sample here) or visit our Facebook page.

Here’s the chart that shows us that gold has entered a long-term bull market.

Since bottoming in late 2016, gold prices have been up as much as 20%. Still, 2018 is the more promising year for the precious metal.

After gold prices broke above the green, downward-sloping trend line, it indicated prices entered a new trend, one that is heading higher and, when you look at a shorter time frame for gold prices, you still get a bullish picture. Take a look:

Since bottoming in late 2016, gold prices have been up as much as 20%. Still, 2018 is the more promising year for the precious metal.

In the chart above you’ll notice prices have mostly stayed within the resistance and support lines, but recently have traded in a narrower range than usual. This narrow trading range typically precedes an imminent breakout in price.

Usually, you don’t know which direction prices will break out, which is why there is the narrow range to begin with but, considering the longer-term chart indicates prices are heading higher, that is where we can place our bets — and 2018 will be the year prices break out.

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