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Is Gold Breaking Out From Another 10-Year Falling Channel?

ByChris Kimble
Published 02/19/2020, 04:33 PM
Updated 07/09/2023, 06:31 AM
Weekly Gold

Gold created a series of lower highs and lower lows for nearly a decade (early 1990s to early 2000s). This price action created a 10-year falling channel. Once gold broke above this falling channel at (1), it experienced a strong rally for years to come.

Over the past 10-years, Gold looks to have created another falling channel. The rally over the past few years has gold testing the top of another 10-year falling channel.

If gold succeeds in breaking above the top of this channel, which currently comes into play as resistance, it will send a positive bullish message to the metal.

Latest comments

The channel and the resistance !
I have long positions for Gold ETF and Commodity contracts for this ride, please check out what every country's governmental central bank doing, obviously they all are buying gold now each month and even requesting to ship back their gold from US reserve bank...., no mention such inflation and so on reasons.... after breakout, the next level seems to be 1679.50 and then 1700s, 1-2 year term, the goal is to testing and break 1900-2000 level.  now, it is not too late to get ride...
Not sure how this channel was drawn. A trendline should touch at least 2 highs or lows. Thidms channel appears random
At this point Sir, gold is at the edge of breaking high or low?
Even more money is flowing to crypto now.
 Yes, I do believe the fiat money will depreciate while commodity price will go up in the long run. But if a crisis level event happens, the industry is going to be hit, energy and materials will fall because of the demand, in this case, gold is the right safe haven.
Cool thanks for chatting!
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