The Golden Age Is Here
by Stewart Thomson
To view the
big picture for gold, please click
here now. Gold has been consolidating for almost a year.
Two key symmetrical
triangles have formed, and they appear to be acting as the firing
pins that will help gold begin a major price advance.
here now. You can see that gold pulled back towards the middle
of the green triangle, and then quickly bounced higher.
As of this
morning, gold is also trading above the larger dark blue triangle,
which technically confirms a breakout. That breakout should produce
serious follow-through to yesterdays price action, for
the rest of the trading week.
here now. Is that a chart, or a piece of sculpture created by
Michaelangelo? I would argue that the GDXJ chart qualifies as chart
of the year.
junior gold stocks are coming to life, and this GDXJ chart suggests
a virtual price geyser is imminent. Note the small but beautiful
head & shoulders bottom. It is a complex pattern, featuring
of that pattern sits at about $20.30, denoted by the thin black
line of HSR (horizontal support & resistance).
GDXJ had a
great day of trading yesterday, but Canadian markets were closed.
Many hedge funds engage in what may be called nefarious
shorting of junior resource companies on the CDNX exchange.
markets open today, I want to see GDXJ blast up through the neckline
and over the green downtrend line.
The two green
trend lines denote an enormous bullish wedge pattern. The GDXJ chart
could be termed a snorting bull. The chart showcases
a double bottom pattern, a head & shoulders bottom, and a bullish
think that junior gold stock investors could ask for a more bullish
chart than this one.
of pain endured by the average gold stock investor in this crisis
rivals that endured by 1990s technology stock investors. The difference
is that you are likely about to be rewarded in a very big way!
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