Gold Bugs On The Verge Of Some Bullish News For Once (GLD)

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August 26, 2018 6:07am NYSE:GLD

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From Chris Kimble: Over the past couple of decades, the Swiss Franc and metals have experienced major trend changes at the same time.


The Franc and Gold/Silver both bottomed at the same time in 2001, where each started a 10-year rally. The Franc and Gold/Silver both topped at the same time in 2011, where each started 7-year declines.

.The Power of the Pattern shared that Gold should be flat to down for years to come, a week before the top in 2011. What was taking place that suggested meals could struggle for years to come? The Swiss Franc was creating a major reversal pattern at the top of its long-term rising channel.

The trend in the Franc currently remains lower and the decline has it testing 15-year rising support at each (1). Gold and Silver bugs would “Love” to see the Franc breakout at each (2). If it does, the Franc would send a bullish short-term signal to the metals sector.

If you would like to receive Power of the Pattern opportunities in the Gold, Silver, Miners, and Copper markets, we would be honored to if you were a Metals Member.

The SPDR Gold Trust ETF (GLD) closed at $114.16 on Friday, up $1.96 (+1.75%). Year-to-date, GLD has declined -7.67%, versus a 8.17% rise in the benchmark S&P 500 index during the same period.

GLD currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #1 of 35 ETFs in the Precious Metals ETFs category.


This article is brought to you courtesy of Kimble Charting Solutions.


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