Thursday, July 17, 2014

Gold – Long Term Analysis:

Below is a clip from a recent Getting Technical Market Letter Interim Update July 10, 2014 GT1440 – a technical look at bullion using about 15 years of monthly data.

Gold – The Long Term - The price of bullion remains in a long term up trend as displayed by our 15-year monthly chart - See chart - The long 2011 through 2013 A-B-C type correction is now complete – having found support at the long term primary trend line. The new bull would be confirmed on a monthly close above 1400

There was a Caveat::

We need the BMO Junior Gold Index ETF (ZJG) – upper chart -to trade above $9.50 and we need the iShares S&P/TSX Global Gold Index ETF (XGD) – lower plot - to trade above $13.50 to confirm their respective bulls

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