Valuable Insights from Around the Web – Fri 16 Feb, 2018

gold price pattern bullish cup handle chart_february 16

By Cory

Opportunity Knocks… Will Gold Bulls Answer?

I apologize as posting will be a bit light today on the site. I am busy putting together the weekend show which will be mainly market/investing focused this week and next. Plus the response I am getting with questions for Quinton is quite extraordinary. The full interview will be included on our weekend show.

In the meantime here is a straightforward gold chart from our friend Chris Kimble at Kimble Charting Solutions.

…This post was intitally posted at SeeItMarkets. Click here to visit the site.

Gold investors have enjoyed a strong start to 2018.

After a brief pullback into early February, the shiny metal has charged higher once more.

The question now: Is a major breakout on the way for gold and precious metals bulls?

Looking at the chart below, you can see that a strong base has been built in both Gold prices and the XAU Index (Gold and Silver Miners). These bases look very similar and have take a few years to build… so IF both breakout at the same time, it would be rather bullish for precious metals.

This is a big spot for metal heads!

At the same time, Gold bulls need Silver to play along. Silver offers a higher beta and is typically seen as “risk on” when outperforming.

Currently, the Silver/Gold ratio is testing a confluence of price support: its 27-year rising channel and 2003 & 2008 price lows. Bulls need to see this support hold, followed by a strong move to the upside. Stay tuned!

Note that KimbleCharting is offering a 30 day Free trial to See It Market readers. Just send me an email to services@kimblechartingsolutions.com for details to get set up.

Twitter: @KimbleCharting

…read more

Source:: The Korelin Economics Report

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