Gold created a series of lower highs and lower lows for nearly a decade (Early 1990’s to early 2000’s). This price action created a 10-year falling channel. Once Gold broke above this falling channel at (1), it experienced a strong rally for years to come.
Over the past 10-years, Gold looks to have created another falling channel. The rally over the past few years has Gold testing the top of another 10-year falling channel.
If Gold succeeds in breaking above the top of this channel, which comes into play as resistance currently, it will send a positive bullish message to Gold.
If Gold, Silver, Copper and Miners stocks are something you like to trade or want to stay highly informed on the patterns they are creating, our Weekly Metals Report would be of value to you.