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Gold

Gold is back above $1,700. Charts suggest an even bigger rally

CNBC/Bill Baruch/4-6-2020

“As seen in the chart below, gold is displaying a bullish inverse head and shoulders pattern with Feb. 28 and April 1 displaying the shoulders and that March 16 low and bottoming action being the head. … [Silver’s] recovery, however, has a beautiful bull-flag pattern with the rally from March 20 to 25 being the flagpole and the consolidation over the coming days being a perfect flag pattern. This aligns a needed close above $15 in silver to not only break out of the bull-flag pattern but regain the 2001 trend line and fuel a massively bullish rally in gold, one that we would expect silver to join.”

gold bar chart showing reverse head and shoulders

bar chart silver showing bullish flag pattern

Charts courtesy of TradingView.com

USAGOLD note:  Technical analyst Bill Baruch of Blue Line Research has been remarkably accurate in his gold predictions over the past two years.  He is a regular contributor at both Bloomberg and CNBC.
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Gold

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Gold

Price of Gold Fundamental Daily Forecast – Federal Reserve: The Gold Investors Best Friend – Yahoo Finance

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  3. Gold Price Analysis: Corrects lower from tops around $1,690/oz  FXStreet
  4. Gold hits 1-month peak fuelled by Fed’s new stimulus measures  CNBC
  5. Gold prices jump to seven-year high  Livemint
  6. View Full Coverage on Google News
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Gold

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Diamond

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