Goldrunner: Gold & Silver Showing Rare - Ultra Bullish - 3 Fan Line Formations - munKNEE.com
Monday , 23 November 2020

Goldrunner: Gold & Silver Showing Rare – Ultra Bullish – 3 Fan Line Formations

Charts of Gold and Silver are now showing a seldom seen phenomenon – a 3 fan-line formation. I have only seen a couple of these formations over the years, and they have always been explosive.

By Goldrunner, long-time contributor to munKNEE.com – Your KEY To Making Money!

Gold & Silver Showing A Rare 3 Fan-Line Formation

  • A break in price up and out of a three fan-line formation can allow price to simply cut through a large amount of overhead resistance easily creating a price “ride on a rail” higher.
  • Assuming Gold and Silver will now rise higher, this formation could see Silver and Gold fly over the next 3 months, with Silver potentially rising all of the way up to as high as $50 target.

Below, is a Stockcharts log chart of the historical 3 fan-line formation that started the Gold Bull back in 2001…. a ride on a rail.

 

Arithmetic Gold Chart Shows 3 Fan-Line Formation In Progress

The current arithmetic gold chart below also shows a potential 3 fan-line formation in progress and were this to occur it is logical to assume that gold would rip through the overhead resistance within the current time period.

Arithmetic Silver Chart Showing 3 Fan-Line Formation Resolution

The Silver arithmetic chart below shows that with a resolution of the 3 fan-line formation there is the possibility that a 3 month accelerated rise up to around $50 could eventually play out, just as it did in the 5th wave run back in 2011, and that would not be unexpected given the recent massive Dollar printing recently. I think we are about to find out.

 

For the moment, GOLDRUNNER, 11-07-20, GOLDRUNNER44@AOL.COM

Please understand that the above is just the opinion of a small fish in a large sea. None of the above is intended as investment advice, but merely an opinion of the potential of what might be. Simply put: The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Comments within the text should not be construed as specific recommendations to buy or sell securities. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions. In the interest of full disclosure, GOLDRUNNER is personally invested in the Precious Metals sector including various Precious Metals and other individual stocks. GOLDRUNNER reserves the right to modify or eliminate any or all positions at any point in time

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