Has Gold Price Reached A Bottom?

The Trump Effect

The election of Donald Trump has caused  some great volatility in the price of gold in the past few days, first a sharp rise and then a decline. Gold is trading near a several month low, however it seems to be reversing the decline this morning.

Charts

Here are some charts that may be showing that prices will be rising soon. There is, of course, no concrete method of forecasting, these charts are indicating only a possibility, only price action will tell if the metal will be moving higher or if it will be moving lower.


This first chart shows the Macd with Bullish Divergence, which may have been confirmed by the price rise in the Asian markets earlier today

 Support and Resistance is shown on this Harmonics chart, in fact the metal appears to be oversold at this time.

The Fibonacci Pattern, Bullish AB = CD supports the idea that price is ready to move higher.

Here is another Fibonacci Pattern on a Monthly Chart. Often an analyst will give a lot of credit to what may be appearing on longer time frame charts.

Gold price could break below $1200 on 'Trumpflation' fear - The Week UK
Mon, 14 Nov 2016 10:00:15 GMT
The gold price recovered in Asian trading overnight, rising around one per cent to $1,224 an ounce before the start of the European trading session this morning. However, ...
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Gold Prices Reach Five-Month Low - Wall Street Journal
Fri, 11 Nov 2016 21:10:00 GMT
Gold prices fell to a five-month low Friday as appetite for riskier investments improved after Donald Trump's victory in the U.S. presidential election, damping demand for haven as ...
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Gold Weekly Analysis - DailyForex.com
Mon, 14 Nov 2016 06:17:36 GMT
Gold ended the week down $67.29 at $1225.59, as a stronger U.S. dollar and increased appetite for riskier investments dampened demand for the metal. The market rallied all the way to the $1337 area on D ...
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Technical analysis: Gold tumbles. Moves away from MA levels - ForexLive
Fri, 11 Nov 2016 15:57:49 GMT
ForexLiveFounded in 2008, ForexLive.com is the premier forex trading news site offering interesting commentary, opinion and analysis for true FX trading professionals. Get the latest ...
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Krugman Gets His Alien Invasion – And Gold Bugs Get Paradise - Gold Seek
Sun, 13 Nov 2016 21:22:32 GMT
Gold SeekNobel Prize winning economist and uber-liberal New York Times columnist Paul Krugman likes to illustrate his philosophy by noting that the threat of an alien invasion would ...
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Copper calls Gold Bottom on Trumphoria Surge... - Gold Seek
Sun, 13 Nov 2016 21:27:43 GMT
Last week was highly unusual. Despite not winning the popular vote, Trump won more seats than Hillary Clinton and ended with a clear majority, contrary to what opinion polls projected. ...

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