It appears that gold is finally breaking out on the upside after a battle at the $1,800 level.
August 13 (King World News) – Eric King: “Alasdair, we are seeing that $1,800 level being attacked once again.”
Alasdair Macleod: “Eric, it’s fascinating really, and I don’t think you and I are surprised. We’ve spoken about this and you’ve broadcast my thoughts on it. I feel fairly certain that gold bottomed at that $1,680 level and there are all sorts of technical indications as to why that was so. It was very oversold, from a fundamental point of view, it (the move down) was crazy, etc. And you had a pattern there that was sort of flat with the top end being $2,070 and the lower end being $1,680. It hit the top end first after a good run, then it corrected down to $1,680, back up to $2,070, back down to $1,680. That is an absolute classic flat consolidation pattern. And we now seem to be breaking out of the downtrend…to continue listening to Alasdair Macleod discuss the breakout in gold and much more CLICK HERE OR ON THE IMAGE BELOW.
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