Originally published by Chamber of Merchants
Gold has moved down into the $1250’s price range as I anticipated in an earlier post. I wanted to share a Perspective Chart to show the bigger picture of what we’re most likely dealing with.
In the chart below it’s clear that in a bull market, the 200 moving average and 200 exponential moving averages are levels of extreme support and resistance depending on whether we’re in a bull or bear market. My thesis is that Gold is in a bull market.
If I were in cash, this would be the very best probability trade I could enter based on Gold being in a bull market.
Think Better, Feel Less. China’s back on Monday.