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Gold; Testing 800 pound breakout level, says Joe Friday

Courtesy of ZeroHedge. View original post here.

joe friday just the facts kimble charting solutions

Gold has been losing ground to the US$ since 2011, as each rally has been nothing more than a counter trend rally, where it runs out of steam. Its been a long 6-years for metals bulls, could this frustrating stretch of disappointments be about to end?

Below looks at the Gold/US$ ratio over the past 10-years-

Gold dollar ratio kimble charting solutions

CLICK ON CHART TO ENLARGE

Joe Friday Just The Facts; At this time, the Gold/Dollar ratio is testing 800 pound resistance at (1). One of the most important tests for Gold bulls in years, is in play at this time.

For 6-years rallies have run out of steam for this ratio at lower and lower highs. Will it be different this time? If it is, would sure want to be on the long side of Gold. Would follow a breakout, if it would happen to take place.

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