11/18/10

Technical patterns: gold

Is the price of gold in the process of forming a head and shoulder pattern (click on the chart to enlarge it)?

It could be a very bearish sign for gold and all commodities.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked best market timer in the 12 and 6 months ending 8/20/10 by Timer Digest

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1 comment:

Russ Janson, Tampa said...

I am not so sure. If a tendline w/top and bottom is extended from the August low, you could say that the November 9th to 28th is the downslope of the shoulder and not the head downslope.

Russell Janson, Tampa