Agoracom: Small Cap Investment - Golden Band Resources - Re: Charts & Comments

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Saskatchewan's SECRET Gold Mining Development.

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Fran Six

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Re: Charts & Comments - $Gold:$CDW Monthly

in response to

Re: Charts & Comments - BNN.ca

Fran Six

posted on Feb 23, 2014 12:05PM

$Gold:$CDW Monthly

The $CAD Monthly gold price chart in log scale presents a very clear unambiguous development in Elliot Wave terms of a 3-wave Extension. The monthly chart also simplifies the direction of the gold price from here, turning bullish this month with a RSI challenging 50 and an ADX crossover.

The bull market is for the most part complete, and the re-rating in gold prices is almost done. There may still be a policy change where currencies are devalued against gold once the bull market is over and done with: