- In 2001,gold ounce went out of very old triangle, in the same time, gold ounce trend changed.Even if that one hadn't all characteristics of triangle, the breraking of this very old trend straight line give a very hight objective in 875$. This exit of the triangle place side by side with trend change is a very important event who makes me feel optimistic.
- The next important resistances of gold ounce are 425$, 500$, 725$, and 875$. The most important is, no doubt, 425$ because the followings are less hard to get over.
- Gold ounce is out of a old low trend (of 21 years old) in january 2001, the passage of 425$ will be a new confirmation of this changing trend. The resistance of 425$ is very important because, this preceding top was tested twicec and duringg 21 years gold hadn't jump a previous major top. this event will indicate by a new way the changing trend in a long-range.
- The macds and momentum broke their old straight lineaged by 2 decades in january 2001. the momentum also goes out of a very old triangle (look at before ultimate graph )
- It's very interesting to notice that the oscillatiry and the sto have some similitude between the beginning of the increase(1977-1980) and present time. this analysis must be take with a lot of precaution because situation isn't the same at all.
- The approach with the "Bollinger band" is very interesting too as she indicates that each beginning of the increase of gold, the rate of ounce leave in the high part of "Bollinger band". When the low period retakes, the rate of gold pass by the low part again. whise thoces points of entry and exit, it can possibly build like a triangle (or a canal), not really "academic", but dating 1981. Only at the beginning of 2003, the ounce has getted out of it, after 20 years in it. It seems that gold should lower at the rate of 2 years of increase period for 6 years of drop. With the changing trend, it's possible to hope 6 years of increase period for 2 years of drop period, it's exactly the opposite of low trend.
- To sum up, i think that the rate of gold ounce has liberated in january 2001 out of low trend 21 years old, and more, it's the start of a very intense increase for long-range whose will be proportional with the drop. The most last resistance is 425$, then the way is free near news tops. I recommend to take some positions for long-range because it's only the beginning of the increase.
Dr Thomas Chaize