Craig Hemke recently posted this price chart for gold. He sees a bullish pennant chart formation.
A breakout upward from Mr. Hemke's chart formation could send the price of gold up to the upper trendline of Oscar Carboni's gold bull flag, i.e., up around $1300 +/- $10.
A breakout upward from Mr. Carboni's gold bull flag could take gold up to the mid-1400s, given the huge flagpole. The reason why that's exciting is because there's hardly any resistance between $1400 and $1600.
I don't pretend to know how fast that could happen. But, it's worth remembering that gold went from $1600 down to $1250 in less than a year: 2013, and went from $1250 to $1600 in less than a year: September 2010 to August 2011.
A move like that hopefully would be attention-getting for potential mine financiers.
Trying to stay positive, I am
Old School
