Gold: rise (similar to Crude oil rally 2003 / 2008)

Yearly trend: bullish for more than 2 years.

On a yearly basis, a bullish parallel pattern is in progress. The dynamic for each band is very strong. PY will cross MY in more than two periods.

Idea: bullish non-crossover for our stochastic.

 

Long term: bullish above Historical High (1033)

On a quarterly basis, the pattern is a bullish parallel one. The dynamic for our 7 / 23 quarters moving averages is bullish. The status in progress for our MACD is a bullish non-crossover with an oversold status for our stochastic. Above 1033 a new bull move could develop.

On a monthly basis, our 7 / 23 moving averages will continue to rise with a weak bullish non-crossover as a status. With our stochastic, the status is similar. As long as MM proves to be a support, a decline is only a technical move.

Idea:  1033 levels could be a strong resistance

R = 1033, UQ (1060), +++;    S = MM (901), LM (788)

 

Medium term: flat

On a weekly basis, Bollinger bands spread is not yet minimal. Our 7 / 23 weeks moving averages are up with a bullish non-crossover as a status. Our MACD is not overbought.  PW is a strong support.

Idea: a bullish pre-parallel pattern could develop in October.

R = 1033;    S = PW (928)

 

 

Short term: Bullish parallel pattern

On a daily basis, a bullish parallel pattern is in progress.

Idea: use bullish parallel rules.

 

R = 1033;    S = MD (981)

 

 

Conclusion: not bullish (medium / long term) as long as 1033 = resistance.

 

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