Gold Indicator Hanging Onto Support By A Thread! Gold Bulls Pay Attention!

by Kimble Charting

Is Gold about to receive a very important bull/bear signal this month? Looks like it!

This chart takes a peek at the Gold/U.S. Dollar ratio over the past 15-years. The ratio double topped at (1) and once it broke support in 2013, it declined sharply over the next 24-months.

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It peaked in August of last year at (2), where it appears to have created another double top.

The decline over the past 7-months has it testing the 10-year support level at (3).

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The Gold/US$ ratio is hanging onto support by a thread this month. Gold bulls should be aware how important it is for Gold that this support holds!!!

 

 

 

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