I see analysis popping up out there refuting the bearish Descending Triangle view and in my opinion that is with good reason; it looks a lot more like a massive consolidation of previous bullishness than a topping pattern.
However, a common theme seems to be some kind of static about a QE3 'Super Sunday' (don't hold your breath) or some such noise and gold's imminent and preordained blast off, never to return to current levels as the 'banksters' take it higher and higher.
A theme seems to be that now is the time to be bullish but I have also read within the same theme that we cannot be sure that the 'banksters' will not crash gold through support first, to totally eliminate the little guy before bringing it higher. Continue reading "Just another simple chart of a monetary relic"
