Brian Bloom
Brian Bloom Articles
Within the context of a Primary Bull Market, the price destination target of US$1,109 an ounce for gold remains prevalent; as can be seen from the 3% X 3 box reversal Point & Figure chart below (courtesy stockcharts.com)
Chart - 3% X 3...
Over the past few months I have been writing cautionary articles regarding the gold price. I have received so much "hate/derisory mail" in response to my last two articles - typically from people who have read them at a superficial level...
History shows that one cannot "manipulate" a primary trend (and maybe not even a secondary trend)
Despite all the optimistic noises regarding recent movements of the gold price, the chart below (3% X 3 box reversal Point & Figure chart...
It can be seen from the first chart below that there is now no more room for indecision. Breakout (up or down) must happen this coming week. Note falling volume as price floated up over the past 7 weeks. If you examine the second chart...
Summary and Conclusion
A critically important question that needs to be addressed is whether the gold price has been consolidating within a Primary Bull trend or whether the gold price is entering a Primary Bear trend. It is argued below...
Below is a weekly chart of the gold price - courtesy stockcharts.com. This chart is reaching for a significant decision and the portents are bearish:
Speaking dispassionately, the chart below (courtesy stockcharts.com) shows three historically bearish break-downs (blue arrows) and three potentially important bearish developments (purple arrows).
Blue Arrows:
Author Note: This is the first of three articles that examine the threats and opportunities facing the world economy. It looks at the European crisis - and its potential impact on the world economy - through the eyes of the financial...
