16 January 2015

Gold Breaks Out - Whoomp, There It Is

In addition to the breakout, I have circled a potential pattern of which we might be mindful.

This breakout seems to have more power behind it, and is tied to the fail of a major market currency rig of the Swiss Franc to the Euro. And that may be a sign of further euro declines and troubles to come.
As you may recall the SNB put the Swiss-Euro peg on about the time that gold started the sideways chop and recent bear market.

But the markets have not suddenly become honest and transparent, and the currency war goes on.

So let's see how gold handles this breakout, and the kind of follow through that we get.

But for now, whoomp, there it is.

Can you dig it?   I knew you could.