{"id":4005,"date":"2018-04-15T23:50:32","date_gmt":"2018-04-16T03:50:32","guid":{"rendered":"https:\/\/howigrowmywealth.com\/?p=4005"},"modified":"2018-04-16T07:58:12","modified_gmt":"2018-04-16T11:58:12","slug":"gold-market-ascending-triangle-a-detailed-analysis","status":"publish","type":"post","link":"https:\/\/howigrowmywealth.com\/gold-market-ascending-triangle-a-detailed-analysis\/","title":{"rendered":"Gold Market Ascending Triangle: A Detailed Analysis"},"content":{"rendered":"
Gold has been steadily rising in an ascending triangle trading pattern since December of 2015. It’s my belief that gold bottomed in December of 2015 at $1045.4 per ounce. I don’t believe that gold will ever trade below $1045.4 again.<\/p>\n
The highs being around the same level and then falling combined with progressively higher lows is what leads me to describe the last three years of gold price moments as an ascending triangle.<\/p><\/div>\n
The high since gold bottomed in 2015 is $1,377.5 which occurred on 6 July of 2016. In the time between then and now gold has failed to match this high or make a new one. The price of gold has come within $20 on five separate trading days–three of which were in 2018 and one of those breakout attempts was last week.<\/p>\n
Gold has been trending upwards in an ascending triangle. The blue dashed line is what I’m calling the December 2015-December 2016 support trendline<\/p><\/div>\n
Fundamentals for What to Buy and Charting for When<\/h1>\n