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Gold At Key Technical Juncture

Published 09/04/2014, 12:36 AM
Updated 07/09/2023, 06:31 AM

After yesterday’s $23 decline, Gold is at a key juncture - here are the most important charts:

Gold (Daily) - Testing bottom rail of down-trending channel

Gold Daily

Gold (Weekly) – H&S bottom with key support at $1240

Gold Weekly with H&S Bottom

Gold (Weekly) – Break of multi-month symmetrical triangle targets ~$1050

Gold Weekly with Triangle Targets

There can be no doubt that gold is at a critical moment which could very well decide the next $200 directional move for the yellow metal. Moreover, the fact that September is the most bullish month for gold historically makes the current situation all the more intriguing.

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