ASX Telstra telco looks poised to to test previous $2.60 support.
Inverse cup and handle + monthly price action close below resistance.
Short trade activated via OTM June puts.
The trend in gold from the top in 2011 to now is following an almost identical log scaled path from 1996 - 2011. A 4 year consolidation followed by 10 year up trend. If the pattern continues the chart points to $8000 gold by end of the decade 2021 - 2028/30. The current cup and handle forming could take gold to $3000 within the next 18 - 24 months.
A few things.
1. Over the last 2 years every time S&P has made a higher high and reached RSI down trend it has fallen hard.
2. Bonds are currently signaling stress and deflation despite trillions of QE. For reference see; US2's/10's , TLT.
3. Many eyes are on the DXY breakdown however that is mostly skewed toward EUR, Yen, GBP. The broad trade weighed USD is...
Waiting for weekly close above 18.328 to confirm next leg up to 20.00.
Gold/Silver ratio may also be forming a bearish H&S formation which may signal silver bullish bias to persist through 2020.
Usually a bad sign for US stocks.
You can view my other charts for long VIX short gold/silver ratio for reference through my profile.
I'm long silver through micro cap...
XAUAUD - This has to be the most telling of all sorties of all.
While everyone continues to pile into trendy tech stocks operating in crowded consumer markets, harbouring astronomical debts, that make no profit, with PE ratios higher then Cheech and Chong. At the same time the unloved boring gold sector with low PE ratio businesses, no debt, free cash flow and...
