The stars are starting to align for gold bulls
I’ve been following gold pretty closely since I first proclaimed, ‘it’s time to get greedy in the gold market,’ when the precious metal fell below $1,100 a couple of years ago. Since then it appears to me that gold has been trying to form a bottom. One major technical obstacle, however, has stood in its way and that was the downtrend line that dates back to the 2011 top.
www.goldprice.com This week that downtrend line was broken.
Looks like gold’s 6-year downtrend line is finally breaking… pic.twitter.com/aVcnR9CJTl
— Jesse Felder (@jessefelder) June 6, 2017