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Thursday, July 12, 2007

Gold Price Timing II

The equal spacing tool is indicating a high at some level about the 3rd week in July. After a pull back from this high, gold can turn around and make a significant run up to new highs in these gold and silver bull markets.



Gold has made an upside down head and shoulders pattern as well as breaking up through the pattern's neckline. Very bullish. The head was in the last week of June. This can be seen in this daily bar chart:
http://futures.tradingcharts.com/chart/GD/87

Also, it looks like the gold and silver share train is pulling out of the station.
Too bad that most do not know the train is leaving.

It looks like this about 14 month long gold basing action is over.