Gold is Knocking on a Key Breakout Level

Gold is Knocking on a Key Breakout Level

For the past 5 years, Gold prices have traded sideways. There were plenty of “trades” to be made, but that type of price action tends to grind out long-term bulls and bears. You can see this in today’s “monthly” closing chart for Gold (shown below). Gold bulls caught...
Gold; 8-Year Breakout Attempt In Play!

Gold; 8-Year Breakout Attempt In Play!

Since the 2011 highs, Gold futures have created a series of lower highs and lower lows inside of falling channel (1). The rally since the lows in 2016 has Gold facing the top of its 8-year falling channel at (2). This test comes into play as resistance for Gold,...
Santa Claus Rally Taking Place Here!

Santa Claus Rally Taking Place Here!

While it’s easy to find articles that suggest a Santa Claus rally isn’t taking place this year, the Power of the Patterns would disagree! This chart looks at the performance from several assets in the metals sector the past 30-days. Even though all of...