Gold Keeps Rising

While many analysts are waiting for a pullback...Gold keeps rising!

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courtesy Stockcharts.com and goldchartsrus.com

is the daily gold chart. The RSI is holding firm above ‘50’ and the CCI is steady above ‘0’.The 20 DAY EMA, (Exponential Moving Average - blue line) has been a great support for long positions, thus providing an ideal place for protective stops.   

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courtesy Goldchartsrus.com

This chart shows the historical pattern for the gold price in four periods. Disregarding the red line which includes thelatest bear market segment, we see that gold usually begins to rise in July – August and forms a seasonal top in February – March.  

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Featured is a chart chart that compares miners to gold bullion.The pattern is an ARAT formation (Advancing Right Angled Triangle).A breakout at the blue arrow will be very bullish for both gold and mining stocks.The supporting indicators are positive and themoving averages are in positive alignment and rising.You can watch this indicator during the day: GDX:GLD.