Cookie Policy

Chartsview Blog

The Latest Blogs from Chartsview

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login

Bear Flag Breakdown

by in ChartsView Blog:
  • Font size: Larger Smaller
  • Hits: 4030
  • 0 Comments
  • Subscribe to this entry
  • Print
4030
Picture
No surprise that with the latest collapse in the price of physical gold the miners have followed suit. The daily chart on the left shows the bear flag and the subsequent drop in price.

Note how there was a nice little backtest which should have been the entry to go short. The problem now is: where next?
Picture
We have to go back to the monthly chart and 2002 to find the next support which is not far away now at 80p. This could coincide with gold getting down to the important $1156 mark which is also a significant support and should be a good place to go long.
0
Trackback URL for this blog entry.

Comments

  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Thursday, 28 March 2024