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(Kitco data) – here is what I wrote in a Kitco report on June 24:
pattern line can test with:
A linear regression in statistics
the results of sample estimation in information
sample line (technical diagnosis), a device in technical prognosis
Trendline prognosis–where gold, silver worth is often on Sept. 1, and …
About prognosis–the situation
“Take a gander at the weekly continuation chart for local Comex gold futures. prices are in an accelerating uptrend as considered with the aid of the three construction strains that get ceaselessly steeper. pattern-line diagnosis, the usage of the latest, steepest trend line, projects the next costs within the following timeframes: Sept. 1–$1,886; Nov. 1–$2,040; Jan. 1–$2,213.”
right here’s an update, given the as of late more challenging price acceleration (just a little steeper uptrend line) in gold. And this time I’m together with silver worth projections.
Trendline diagnosis–the place gold, silver worth can be on Sept. 1, and …
Comex gold, silver futures worth projections, based definitely upon present construction-line prognosis:
Sept. 1: $1,915.00 (commonplace downside correction in an uptrend projected)
Nov. 1: $2,085.00
Jan. 1: $2,257.00
Sept. 1: $21.50 (commonplace draw back correction in an uptrend projected)
Nov. 1: $25.15
Jan. 1: $28.50
needless to say, technical chart analysis is a less than excellent artwork and it’s very conceivable the associated fee development traces in gold and silver will change all over again throughout the coming weeks, which would then alternate the cost projections. however, a variety of the “excellent money” in the market will attest that studying technical value charts offers additional buying and selling success than exclusively inspecting provide and demand fundamentals in a market.
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