Long Term Gold Price Technical Analysis $GLD $GDX $AUY

Three charts below I hope will build a bull case for gold on a technical analysis grounds.  Coincidentally (or not) the geopolitical background has changed in a way that was unthinkable just a mere 2 weeks ago. An example headline from @CBCNews  U.S. warns Russia against threatening Ukraine navy.

24 Hour Spot Gold – March 3, 2014 – XGLD

3-day 24 hour spot gold 1350 Kitco

 

Weekly Chart Technical Analysis / Indicators $GLD

Weekly Gold Chart Analysis March 2014 XGLD GLD

There are many reasons this can be considered a “pretty chart” from a Technical Analysis Perspective.

  • MACD -> The signal line is about to break above the 0 level.  This is usually a “buy” signal for the time frame.
  • The slow stochastics is “overbought”.  However, during Strong bull markets, the slow stochastics can “embed” this usually is confirmed when 3 data points have the K & D line above 80.  This week is the first week this condition has been met. Keep a watch on this over the next 2 weeks.
  • Double Bottom reversal pattern can obviously be seen in Gold.  The interesting part of this is the symmetry of the ABC correction in “wave 2″.

Yamana Gold – $AUY $YRI.CA – Bull Case – Technical Analysis

Yamana Gold - AUY YRI Daily chart Technical Analysis

 

All I can say is that I am super bullish on Yamana Gold for various reasons.  Technical above. Fundamental Gold prices as well as the fact that Yamana Gold ( $AUY & $YRI.CA ) has one of the lowest production costs per oz of gold around the $900-$950 zone.

Bonus Chart Analysis: The Icing on the Cake

AUY Stockta Technical Analysis Bullish time frames

Source Stockta.com AUY Yamana Gold Technical Analysis