by Bill Downey     Price Analysis of Gold and Silver
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Technical Analysis Trading Gold, Trading Silver/ analysis By Bill Downey providing key turning points & charts for investors and speculators in Precious Metals Trading, and Precious Metals Markets

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Bill Downey, of Gold Trends.net, LLC, is an Independent Investment Analyst with over twenty years of study. YOU SHOULD NOT TAKE ANY MATERIAL posted on this WEBSITE AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. Do your own due diligence. No one knows tomorrow's price or circumstance. The author intends to portray his thoughts and ideas on the subject which may s be used as a tool for the reader. GoldTrends does not accept responsibility for being incorrect in its speculations on market trend or key turning points that it may discuss since they are at best a calculated analysis based on historical price observations.

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Gold Long Term Technical Chart Trend Pictire versus Opinion

17 Nov 2016 7:35 PM | Bill Downey (Administrator)

Gold Long Term– Neutral;

Moving averages (1223-1226)

Even the long term chart is showing just how CRITICAL the 1180-1220 area (especially 1222) is for gold with BOTH Moving Averages and PRICE coming together AT THE SAME PLACE.

If gold ON A MONTHLY CLOSE ONLY can keep closing above 1222 and the BULLISH Blue average moves above the BEARISH Red average, (only 3 dollars separation) then the long term trend will go from NEUTRAL TO BULLISH. UNTIL then Gold remains technically Neutral. A close below 1222 on the last Day of November will warn that 1122 will be tested.


Gold Long Term (continued)

The bottom line is gold must overcome the 2011 downtrend line in order to start the next leg up. Until then, the bears most likely gave their best effort here to get gold to sell off into a good correction and they have been successful. Now the next critical test, the moving averages are here.

Another way of looking at it, is if this area can’t hold, the BULLS can’t say the bear market that began in gold is over. If they do say it, it is only opinion (and pride).



Technical Analysis :: Gold & Silver

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