Now we can see if the backing and filling is over, and a base can be built for another try at the breakout.
A reader from Strasbourg sent this chart of inflation-adjusted gold, and suggested I take a look at it for a longer term 'cup and handle.' So I did some basic charting and calculation that are shown below.
That's not a cup, its a golden bowl!
Who knows if this is valid. Let's just call it gold bull porn, and leave it at that.
Here is a short clip from one of my favorite Russian films Дневной дозор, Dnevnoi Dozor, or in English Day Watch. It is the sequel to Night Watch, both under the direction of the Russian director Timur Bekmambetov who went on to create Wanted starring Angelina Jolie and James McAvoy.
I don't know why, but it seems appropriate to a discussion of the long term gold trend.
