Gold game plan potential

CLIFF NOTES: prior Gold work – http://bartscharts.com//?s=gold

CLIFF NOTES 2: 1370 will be key to the last leg of a triangle, thrust DOWN and out of the triangle and then a BUY.

CLIFF NOTES 3: note the first chart.  Again, it’s ratio analysis of GLD vs SPY.  What we are looking for is a PATTERN to show a SHIFT in the relative strength of one security versus another. In this case, the S&P 500 has out performed, tremendously, the GLD since 08/2011.  But look what just happened .. we completed a pattern at the .786 and 3 weeks ago,we found support and NOW it’s starting to move UP along w/ SPOT GOLD, ABX and the overarching Gold/Silver Index.  A key development …

ratio analysis of GLD to SPY
ratio analysis of GLD to SPY
GLD vs QQQ
GLD vs QQQ
GLD / DJIA
GLD / DJIA

THIS IS A CHART W/ HISTORICAL PRICES SINCE 1913

gold since 1913
gold since 1913
gold gameplan
gold gameplan

 

note ABX – Barrick Gold is confirming this move … a revisit of our BUY recommendation. ( http://bartscharts.com/2014/05/21/abx-buy/ )

ABX
ABX

Gold/Silver index appears to be on par to put in a MONTHLY signal reversal candle … (http://bartscharts.com//?s=gold+silver+index )

Gold Silver Index
Gold Silver Index

Gold/Silver Index … continuing the thread

here’s the previous Gold/Silver Index posts:

http://bartscharts.com/2013/10/03/gold-silver-index-a-guide-for-the-yellow-brick-road/

so, as you can see the geometry is sure starting to unfold for a “double bottom” type of scenario and then, potentially, higher.  If you read my Gold posts

http://bartscharts.com/2013/09/07/good-as-gold-part-1-of-2/ 

http://bartscharts.com/2013/09/08/good-as-gold-part-2-of-2/

then you’ll see how I’m looking for one more move lower on the Gold to set up a very  nice buying opportunity.  you’ll also see the reason why the levels approaching on the Gold/Silver Index are so key.  Stay tuned on the Gold/Silver index because the level it found support in is KEY .. if we break that to the downside via a daily close below that level, then the index and Gold could certainly take a smash.  stay tuned …

Gold Silver Index double bottom potential?
Gold Silver Index double bottom potential?