Two Charts That Gold Bulls Will Love

Presented with almost no comment:

First, the U.S. dollar is taking quite some time consolidating. With a U.S. Fed kicking the can down the road when it comes to hiking interest rates, the market has clearly understood that the dollar cannot rally, at least not in the short to mid term. The strongly declining volume on the chart suggests interest in the dollar is waning (see red line below).

USD_6_october_2015

Second, gold is attempting to make a huge breakout, as evidenced on the following chart. The number of touchpoints on the resistance line is 5. The area between support and resistance line is minimal. If gold will succeed in breaking out, it will be THE long anticipated trend change.

gold_price_6_october_2015

Things are getting extremely interested.

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