Understand the top callers have been trumpeting nonsense since the beginning of this trend. Understand the technicians are largely scope locked on the shortest time scales. Understand that fundamentals drive technicals, not the other way around. Understand the fundamental story for gold only strengthens with each passing month. Understand this chart represents paper + physical gold supply and the physical only chart remains hidden. That chart has a similar shape, only the Y axis index numbers are multiples of the chart shown.
Finally, understand the chart below will lose favor when a waterfall develops that signals the emergence of Freegold. The physical only chart will then come out hiding. Don’t trade the chart below, buy and hold the physical only chart.
“We are God’s children now; what we shall become has not yet been revealed. We do know that when all is revealed we shall be like him, for we shall see him as he is.” 1 Jn 3:2
28 April 2012
Gold Bull’s Long Term Trendline – The Indispensable Chart
Although they cannot resist its inevitable climb because of the changes in the global monetary system and the ongoing currency wars, the Western central banks wish the increase in the price of gold to remain ‘orderly.’
And so it is.
Thanks to my friend Nick Laird at Sharelynx.com.
Nick has one of the most amazing collections of charts on the web.
Browsing his historical monetary and financial charts is a good way to spend a Sunday afternoon.
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