Gold Price Chart Shows Potential Of A Triple Bottom

This is a short article with some observations on the daily and weekly gold charts. There is no technical analysis involved but rather a summary of the observation of short and long term trendlines. Courtesy of Stockcharts.com.

After dropping below important support, gold rallied back above it. Gold has also recently broken above a declining tops line.

gold_price_daily_chart_12_December_2014

 

The weekly chart shows the bear trap and suggests the bullish dynamics of a triple bottom.

gold_price_weekly_chart_12_December_2014

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