RE: Gold on a tear… best quarter since 198629 Mar 2025 11:01
Hi speadie
With reference to gold pog Charts that's slightly different analysis to individual stocks as macro economics come into play which change with the wind. So you are correct when there is worldwide instability gold is the safe haven however if you look at gold pricing for the last 10 years it's not had a uptrend anything like tech stocks ect. Trump is creating instability so I think for at least his term gold prices will have a stronger upper ward growth .
You are also correct in saying when fundamentals are good they can blow a chartist to pieces both up and down. Gold is in uncharted territory but I expect if will be come sticky at 3.5k and 4k.
So let's look at GGP certain milestones both fundamentally and charting wise had to line up.
Certain price points on GGP become sticky the classic 10p for example it's a round number alot of people took placing price (traders) and therefore we grappled with it as traders not LTH sold into that rise to 10p.
Now what's happened those traders are re entering higher now we have broke a previous 12p resistance now even the traders are being coverted to LTHs.
What charting assists with is where to enter and where to possibly sell.
For example when the 40p pump come people were buying on the way down but the chartist could see it was in free fall so would have never bought at 20p thinking ah its done it's half. They would of awaited a clear and obvious floor price where bulls were winning over a number of days.
Charting + fundamentals = a well rounded traders/investor.