Gold’s Bullish Breakout Is Real!
I remember when my father retired after decades of hard work.
I’ll never forget how beautiful the gold Rolex watch he received that night at his honorary dinner looked sparkling in the banquet hall’s lighting.
The 18-karat gold shined and glistened… It’s a memory I’ll cherish for many reasons for a lifetime.
But now as I think back on that day I wonder…
Perhaps it was that moment that helped steer me onto the path I walk today… A gold expert here to help you maximize your gains in precious metals.
The Most Important Gold Update of the Year
As I wrote to you earlier in the week, gold has a lot going for it right now.
Fundamental factors are aligned nicely in support of higher prices for gold. Plus, seasonal trends turn favorable for gold and silver from December–February, and here we are.
But first let’s get a little technical. The technical picture is also fully in place, signaling higher gold prices ahead:
What you notice right away is what could be the beginning of a bullish turnaround in price action in the blue circle. As you can see, GLD has been in a downtrend since August, with firm support around $136. You can see its descending trend line (red arrow) as it connects past declining highs.
What we’re seeing right now is the trend line potentially breaking to the upside today. If GLD can notch a closing price that was higher than yesterday’s closing price (and carry that trend through the week), it could indicate a new run is starting for gold.
But It Gets Better
Other technical data convince me this move could be a big one.
That’s because a rise in gold prices is well supported by:
- A bullish uptrend in price momentum.
- Consistently positive money inflows.
- A strong upside breakout in buying power!
A TRIPLE-PLAY technical buy signal if I ever saw one!
That’s on top of the bullish fundamentals AND favorable seasonal trends I pointed out earlier this week.
And that’s a perfect TRIFECTA bullish buy signal for gold and gold-related assets.
Chief Income Expert, Mike Burnick’s Wealth Watch