Thursday, 3 December 2015
'Three peaks and a domed house' patterns revisited in gold and silver.
Here they are. These are 3 peaks and a house patterns revisited in gold and silver from August 2011.
The target on silver was $12.44 and on gold it was $1155. As you can see, silver had already made its top near $50 at point Z and was on its way down into the $30-40 range when I annotated the chart. Now it is $14:
Gold has of course already exceeded its $1155 target to the downside as of the end of 2014 and is now at $1060 as of late 2015. Again, this chart was made in August 2011. The breakout happened much later in gold and was much shorter in duration. It was only another month or less to the gold top price of $1920 when this chart was drawn: