{"id":813,"date":"2011-09-18T20:23:51","date_gmt":"2011-09-19T00:23:51","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=813"},"modified":"2011-09-18T20:23:51","modified_gmt":"2011-09-19T00:23:51","slug":"gold-finds-support","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/","title":{"rendered":"Gold finds support"},"content":{"rendered":"<p>A <a title=\"False Break\" href=\"https:\/\/www.incrediblecharts.com\/technical\/point_figure_false_breaks.php\" target=\"_blank\">false break<\/a> below $1800\/ounce indicates buying support at the rising trendline. Breakout above $1900 would complete an <a title=\"Ascending Triangle\" href=\"https:\/\/www.incrediblecharts.com\/technical\/triangles_and_wedges.php\" target=\"_blank\">ascending triangle<\/a> with a target of $2100*. Reversal below Friday&#8217;s low would warn that the pattern has failed and correction to the long-term trendline (around $1500) is likely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png?w=525&#038;ssl=1\" alt=\"Spot Gold\" \/><\/p>\n<p style=\"text-align:right;\"><span style=\"color:#999999;\">* Target calculation: 1900 + ( 1900 &#8211; 1700 ) = 2100<\/span><\/p>\n<p>The long-term chart below gives a clearer picture of the current bull-trend. Spot prices spiked up 20% in a matter of days after the collapse of Lehman (LEH), but declined back to $700\/ounce within a few weeks. The up-trend only started in November 2008, when the Fed announced that it would purchase mortgage-backed securities and Treasurys in an attempt to lower long-term interest rates (QE).\u00a0 The trend accelerated in 2011, several months after commencement of QE2. While collapse of Lehman was the underlying cause, the bull-trend is a reaction to the Fed response of quantitative easing. Further purchases of Treasurys or MBS would lift demand for gold. Hopefully Wednesday&#8217;s FOMC announcement will provide more clarity as to the Fed&#8217;s intentions.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold-4year.png?w=525&#038;ssl=1\" alt=\"Spot Gold 4 Year View\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A false break below $1800\/ounce indicates buying support at the rising trendline. Breakout above $1900 would complete an ascending triangle with a target of $2100*. Reversal below Friday&#8217;s low would warn that the pattern has failed and correction to the long-term trendline (around $1500) is likely. * Target calculation: 1900 + ( 1900 &#8211; 1700 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gold finds support&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[1578,2827,2831,3301,3330,3488],"class_list":["post-813","post","type-post","status-publish","format-standard","hentry","category-gold-commodities","tag-gold-2","tag-qe","tag-quantitative-easing","tag-support","tag-target","tag-trendline"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold finds support - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold finds support - the patient investor\" \/>\n<meta property=\"og:description\" content=\"A false break below $1800\/ounce indicates buying support at the rising trendline. Breakout above $1900 would complete an ascending triangle with a target of $2100*. Reversal below Friday&#8217;s low would warn that the pattern has failed and correction to the long-term trendline (around $1500) is likely. * Target calculation: 1900 + ( 1900 &#8211; 1700 &hellip; Continue reading &quot;Gold finds support&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2011-09-19T00:23:51+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"Gold finds support\",\"datePublished\":\"2011-09-19T00:23:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/\"},\"wordCount\":166,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png\",\"keywords\":[\"Gold\",\"QE\",\"quantitative easing\",\"support\",\"target\",\"trendline\"],\"articleSection\":[\"Gold &amp; Commodities\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/\",\"name\":\"Gold finds support - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png\",\"datePublished\":\"2011-09-19T00:23:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold finds support\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Breakout above $1900 would complete an ascending triangle with a target of $2100*. Reversal below Friday&#8217;s low would warn that the pattern has failed and correction to the long-term trendline (around $1500) is likely. * Target calculation: 1900 + ( 1900 &#8211; 1700 &hellip; Continue reading \"Gold finds support\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_published_time":"2011-09-19T00:23:51+00:00","og_image":[{"url":"http:\/\/static.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png","type":"","width":"","height":""}],"author":"ColinTwiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"ColinTwiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/"},"author":{"name":"ColinTwiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/cb072791ac83e8bae585007c133d54a5"},"headline":"Gold finds support","datePublished":"2011-09-19T00:23:51+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/"},"wordCount":166,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png","keywords":["Gold","QE","quantitative easing","support","target","trendline"],"articleSection":["Gold &amp; Commodities"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/","name":"Gold finds support - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png","datePublished":"2011-09-19T00:23:51+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2011\/2011-09-19-gold.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/18\/gold-finds-support\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Gold finds support"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. 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A rally to $1900 from this point would form a bullish ascending triangle, suggesting an upward breakout and offering a target of $2100*. Failure of support, however, would penetrate the rising (secondary) trendline and suggest a correction to $1500. * Target calculation: 1900\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28351,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/10\/14\/gold-and-silver-rally\/","url_meta":{"origin":813,"position":1},"title":"Gold and silver rally","author":"Colin Twiggs","date":"October 14, 2021","format":false,"excerpt":"10-Year Treasury Yields were unfazed by reported strong CPI growth for September, easing slightly to 1.554%. Expect resistance at 1.75%. Gold rallied off support at $1750 per ounce, while higher Trend Index troughs indicate secondary buying pressure. Breakout above $1830 would be a strong bull signal, offering an immediate target\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1741,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/03\/spot-gold-looks-for-support\/","url_meta":{"origin":813,"position":2},"title":"Spot gold looks for support","author":"ColinTwiggs","date":"November 3, 2011","format":false,"excerpt":"Spot gold is testing support at $1700\/ounce after its recent breakout above the descending trendline and resistance (at $1700). Respect of support would indicate a primary advance to $1900. In the long term, breakout above $1900 would offer a target of $2200, while failure of support at $1600 would warn\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":422,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/08\/24\/will-bernanke-pull-the-trigger\/","url_meta":{"origin":813,"position":3},"title":"Will Bernanke pull the trigger?","author":"ColinTwiggs","date":"August 24, 2011","format":false,"excerpt":"Rising stocks and a sharp fall on spot gold reflect uncertainty as to whether Ben Bernanke will announce further quantitative easing by the Fed, at Jackson Hole, Wyo. on Friday. Further purchases of Treasurys by the Fed would lift inflation and send investors scrambling for inflation-hedges like gold and blue-chip\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1840,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/10\/gold-falters-on-dollar-surge\/","url_meta":{"origin":813,"position":4},"title":"Gold falters on dollar surge","author":"ColinTwiggs","date":"November 10, 2011","format":false,"excerpt":"Spot gold is testing short-term support at $1750\/ounce as the greenback strengthens. Breach of the rising trendline would suggest that the advance is losing momentum -- and breakout below $1700 would signal another test of primary support at $1600. Respect of $1700 is less likely, but would signal an advance\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6045,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/06\/gold-correction-slows\/","url_meta":{"origin":813,"position":5},"title":"Gold correction slows","author":"Colin Twiggs","date":"November 6, 2012","format":false,"excerpt":"Spot gold recovered above support at $1700 per ounce. Frequent penetrations of the declining trendline indicate the correction is slowing. Note how the metal tends to move in increments of $25. Breakout above $1725 would indicate an advance to $1900*. Breach of resistance at $1800 would confirm. A 63-day Twiggs\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=813"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/813\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}