Gold is setting up for a breakout years in the making, technical analyst says
“‘There’s an expression, the more authoritative a level is, the more authoritative the resolution,” said [Cornerstone Macro’s Carter] Worth, ‘meaning, this $1,350 level has been in play, now, for half a decade. All the while, gold’s pullbacks have been increasingly shallow during the period of time over which $1,350 has been an authoritative top, suggesting that it’s finally ready to spring off the top and into a major breakout.'”
USAGOLD note: We have featured Carter Worth’s analysis in the past. He is considered one of the top technical analysts in the business.