Gold’s massive H&S bottom continues to develop, but overhead resistance could be stiff. The technical significance of the resistance in the 1350 to 1390 zone in Gold cannot be over- stated. This zone has contained rallies in Gold on five occasions (including the current rally), as shown on the weekly chart.
I have commented in recent Factor updates on the completed 6+ year double top on the monthly chart. I was not going to make the same mistake this week.
The iShares China Index Fund has completed a 10-year massive symmetrical triangle on the monthly graph. By clearing the 2015 high this ETF has an upside target of 71.74. I will buy any slight reaction in this ETF, risking to 44.77.
There are reasons to believe the Aussie Dollar has entered a prolonged bullish trend. The period from the Jan 2016 low to present is analogous to the period from Mar 2001 through Jan 2003. An idealized drawing of this pattern – called a “Horn” by Schabacker – is shown within the box on the top chart. [See Schabacker, Study VII.]
I believe there is a good chance that the precious metals will be an outstanding asset class in 2018 – Gold could outperform Bitcoin in the year ahead.
https://www.peterlbrandt.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-28-at-3.52.29-PM.png324488Peter Brandthttps://www.peterlbrandt.com/wp-content/uploads/2020/04/TheFactorReport-small-logo.jpgPeter Brandt2017-12-28 16:58:352017-12-28 16:58:35These fish are for trading, not eating (the parable of Bitcoin)
Gold Resistance
/by Peter BrandtGold’s massive H&S bottom continues to develop, but overhead resistance could be stiff. The technical significance of the resistance in the 1350 to 1390 zone in Gold cannot be over- stated. This zone has contained rallies in Gold on five occasions (including the current rally), as shown on the weekly chart.
US 10-Yr
/by Peter BrandtI have commented in recent Factor updates on the completed 6+ year double top on the monthly chart. I was not going to make the same mistake this week.
Asia Breakouts
/by Peter BrandtThe iShares China Index Fund has completed a 10-year massive symmetrical triangle on the monthly graph. By clearing the 2015 high this ETF has an upside target of 71.74. I will buy any slight reaction in this ETF, risking to 44.77.
Aussie Aussie Aussie Dollar
/by Peter BrandtThere are reasons to believe the Aussie Dollar has entered a prolonged bullish trend. The period from the Jan 2016 low to present is analogous to the period from Mar 2001 through Jan 2003. An idealized drawing of this pattern – called a “Horn” by Schabacker – is shown within the box on the top chart. [See Schabacker, Study VII.]
2018 Gold Outlook
/by Peter BrandtI believe there is a good chance that the precious metals will be an outstanding asset class in 2018 – Gold could outperform Bitcoin in the year ahead.
These fish are for trading, not eating (the parable of Bitcoin)
/by Peter BrandtThere once was a fisherman from a small Mediterranean coastal village in Malta…