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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.”
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.