Commodity Blog

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Video: Is Uptrend in Gold Over?

September 13, 2011 at 8:16 by Andriy Moraru

This gold chart analysis video suggests that the long-term uptrend for gold is probably over, as the recent bullish wave bottom trendline was broken yesterday. The upward spikes established on August 23 and September 6 can be viewed as a double-top chart pattern, which usually signals of an end to the bullish trend. Fortunately for the gold buyers, there are other trend lines, channels and support levels that would be able to hold the price from a very deep dive.

Video by Investor Paul.

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