gold_gary

gold_gary

Gold will break out of a bullish pennant within hours and move to the upside. There is still a strong chance of a backtest of the upper limit of the expanding triangle pattern that it just broke out of in the next 1-7 days. This should hold, confirm the bull move, and begin a longer term positive uptrend through the end of the year.

gold_gary

See chart

gold_gary

This is based on my GOLD analysis today.

gold_gary

Using 10 week MA and BB, gold could correct to $1640-1650 in mid August before climbing higher.

gold_gary

This is just for fun, don't take it too seriously. It's one possibility I could see taking place.

gold_gary

My prediction was incorrect. Silver has backtested the support line of falling wedge again, tagging the 100 MA.

gold_gary

NEM is completing its C wave in a zig zag channel. Expect trend reversal near $50.

gold_gary

GDX is in correction following H&S pattern. Support is around $31. Expect a fake breakout to the downside. Wait for RSI to reach new lows and MACD indicator to cross to enter new positions.

gold_gary

Gold is correcting and will test the 6 month MA as it has twice already during bull market. Bullish trend should continue if support is held around $1650. June is also typically a slow month for gold, adding to the bearish tendency here.

gold_gary Updated 

Support at 1700, channel continues upward in near term

gold_gary Updated 

Silver backtests bullish falling wedge, to rise above $18

gold_gary

There could be one more retest of the pennant lower bound, but either way bullish on bitcoin to $20,000

gold_gary

H&S formed, looking for bottom before bull trend continues

gold_gary

If move resembles earlier setup in bull trend, expect near term bottom around $31-32.