‘A base pattern of this magnitude can support a massive gold bull market’
“We can best see gold’s potential giant base pattern on a 10-year chart. It can be described as a complex Head-and-Shoulders bottom or as a Saucer, and is best considered to be both, or perhaps as a hybrid having the characteristics of both patterns. In any event, as we can see on this chart, it appears to be drawing close to breaking out of it, which will be a very big deal if it happens, because a base pattern of this magnitude can support a massive bullmarket. As for timing it could take several months and it is most likely to happen during gold’s seasonally strong period from July through September. To maintain the bullish case it must stay above the Saucer boundary.”
USAGOLD note: We post Clive Maund’s forecasts from time to time – one of our favorite tech analysts. His latest is worth the visit – a positive prognosis for gold based on structural chart patterns.
Repost from 5-22-2019