Yearly trend: bullish for more than 2 years.
On a yearly basis, a bullish parallels pattern is in progress. The dynamic for each band is very strong. PY will cross MY in more than two years. Gold will shine for a long time.
Idea: bullish non-crossover for our stochastic.
Long term: towards MQ (610) /LM (600)
On a quarterly basis, the pattern is a bullish parallel one. The dynamic for our 7 / 23 quarters moving averages is and will stay strong. PQ failed as a support. Since the end of September, a weak bearish divergence with our stochastic is in progress. MQ (610) is our main target. On a monthly basis, a bullish parallel pattern began in October 2005. MM failed as a support. LM (600) is our main support.
Idea: as long as our monthly M23 is up, a monthly rise could resume.
Medium term: bearish without pattern
On a weekly basis, the spread UW / LW increase. The status for our 7 / 23 weeks moving averages is a bearish non-crossover. MW (843) is a strong resistance. LW (703) is a strong support. As long as our MACD is not oversold, the bear trend will continue towards LM (600).
Idea: go short with a daily signal.
Short term: neutral
On a daily basis, the spread UD / LD is minimal. Our 23 days moving average will continue to decline. UD (787) is a strong resistance.
Idea: in November, with a close below LD (705), a bearish parallel pattern could develop.
Conclusion: no opportunity.