##Gold:
Just a quick note this morning in light of yesterdays smash in precious metals.
The primary thing to notice is the red downtrend line from 2011 which was broken in 2017. This was a major bullish signal that the down trend from the previous 6 years was over and a new trend would take place. Break this line was a big deal for gold although it does not necessarily mean that gold his going to hit new highs any time soon.
The bowl shaped bottom in gold is also a bullish signal as it marks out the decelerating down trend and accelerating up trend (I could have drawn the blue line better to be honest to give it more of a bowl shape touching more of the low points). This bowl shaped trend line might indicated sellers getting exhausted and more buyers moving in.
With more momentum moving into gold (and silver) in my opinion it will soon break the 1360 strong resistance resulting in a surge of buying all the way up to the next somewhat weaker resistance line at 1400. Once that is broken we might be on the way to new all time highs.
For disclosure, I'm not a professional financial advisor and this is not investment advice, merely my own observations of the market and indexes, so do your own research.
