Has a NEW Gold Bull Market Trend developed since the November 6, 2014 low?
The answer is stacking up to be a big YES!
Submitted by Bo Polny:
In a November 2014 post title ‘With Gold’s $1180 Triple Bottom Broken, Is the Gold Bull Market Over?’ (see LINK HERE) the Gold charts below were presented comparing Gold vs. other world currencies to clearly illustrate that by Gold breaking $1180 in US dollar terms created NO long term damage whatsoever! You will also notice the charts below depict the actual bottom and exact cycle low on Gold.
In fact the November 6, 2014 low at $1130 was exactly 3.5 years (half a 7-year gold cycle) or 42-months from the April 30, 2011 – May 1, 2011 $49.00 Silver top. This November 2014 low cycle analysis forecast in advance; see Kerry Lutz interview (CLICK HERE). The important point here is a Gold cycle low/bottom arrived in November 2014 and Gold has been in an UP cycle since.
Has a NEW Gold Bull Market Trend developed since the November 6, 2014 low? The answer is stacking up to be a big YES!
Want proof? In the charts below, we will compare Gold’s price to many major world currencies to clearly illustrate the new Bull Market Trend that has been developed since the November 6, 2014 low. You will notice that the January 2015 cycle high clearly carved out a NEW Bull Market trend by making its first Higher high in over a year in virtually all currencies! Even more important and critical is the fact that this new high BREAKS a 1.5 year triangle/wedge for the very first time since the Bear Market began in 2011.
To those technicians or analysis forecasting a new low in Gold, say under $1000 USD or even $750 USD; these price targets will be very difficult to near impossible to achieve now that the triangle/ wedge has broken out to the UPSIDE across virtually all world currencies. Stated a different way, all world currencies as referenced in the charts below would have to rise significantly in value to take down Gold… For currencies, it is a race to the bottom; not the top!
What happens with a breakout to the UPSIDE out a Triangle/Wedge?
Have a look at Gold, priced in Russian rubles chart below: