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August 16, 2009 / Jeb

Gold Point and Figure Chart is Bullish

The first method I learned from my father was point and figure charting which dates back to the late 1800’s.  As A.W. Cohen said point and figure charts scream while other charts stutter.

There is a lot of debate on gold and whether we have reached a topping reversal here.  Many experts have come out bearish on gold and bullish on treasuries and the dollar.

According to point and figure demand is outpacing supply as gold as had a series of double top breakouts and is above its trend lines.  Treasuries and the dollar although seeing strength recently is still below trend lines and bearish.

pfgldI am seeing a lot of charts that are bottoming.  As the market recovery continues I expect inflation to continue and our precious metals should continue to rally.

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