Swiss Franc Suggesting Gold Will Fall For Years To Come
Courtesy of Chris Kimble of Kimble Charting Solutions
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Three years ago the Power of the Pattern shared that each time the Swiss Franc hit resistance line (1), Gold was flat to down for years to come. (see post here) At the time of the post, Gold was trading near $1,900 per ounce and was hitting 10-year resistance line (2) at (3).
Since that posting Gold has declined over $700 per ounce, losing about a third of its value.
Is a 30% decline enough? I wanted to give you an update on the dual price action from the Franc & Gold at this time.
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As you can see, both the Franc & Gold are breaking below a 13-year support line at the same time.
The Power of the Pattern has some key support lines drawn on the Franc that could well impact Gold in the near future. If you are an investor in this complex and feel this type of data could be of benefit to you, I would be honored to have you as a Metals Member (See details here)
