Monday, 15 April 2013

Three Peaks and a Domed House pattern for gold - and old chart revisited.

In 2012, I posted a chart showing what I took to be a bearish pattern on gold with a potential target of $1300.

For some time, I had also wondered whether the peaks in gold in late 2010 and the big top in gold in September 2011 might make up a "3 peaks and a domed house" bearish chart pattern. I modified the old chart from 2012 and show it here:

The target for the 3 peaks and domed house pattern would be the start of the move, perhaps $1155 but a revisit to the bottom at $1307 after the 3 peaks pattern from late 2010 might be a start.

Some links for this pattern in general: