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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 368.78

+0.2%

Nov 3 4:00 PM EST

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IngotWeTrust

zamboz

To: IngotWeTrust who wrote (29473)	11/5/2014 6:47:18 PM
From: Kirk ©	2 Recommendations of 29622

Glad you like it. That line is an internal trend for a much larger chart 2 at this link Gold and GLD Resistance and Support Levels Three Key Charts to watch Note that on that second chart I bracketed that internal trend line with the more traditional upper (red) and lower (green) channel lines. there is a very similar 14 year orange trend "bar" that we are also testing on a log basis. I got the idea of wider lines or "boxes" from the commentary that comes with a paid Stockcharts subscription except they do resistance and support zones with flat, rather than slanting, boxes. Interesting too how poorly Point and Figure (chart 3 on that link) has done for gold price prediction. It was bullish for my last two updates but it is bearish now so that might be in the favor of gold bulls... The big negative is the wide orange line in my 2nd chart could be the "mean line" so a regression to the mean might easily have an overshoot rather than a bounce.

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