Gold prices continue to move swiftly higher as gold nears $3000/ounce.
Feels like a big rally already. But gold may be in the early innings of a longer-term run… especially if today’s chart pattern proves to be as bullish as it looks.
Is Gold/Dollar repeating the pattern of its past?
Notice that the ratio traded sideways for 15 years before posting a historical break out in the early 2000’s… and rallying for years.
Then gold repeated that 15 year sideways trading pattern before attempting to break out again more recently. History in the making?
Notice as well that both breakouts first tested old resistance as new support followed by breakout confirmation!?!?
Will the gold / U.S. Dollar ratio rally for years again? Stay tuned!
This article was first written for See It Markets.com. To see the original post, CLICK HERE.
