Gold: Debates, Inflation, And Option Expiry

1. If gold is to move substantially higher and retain the bulk of those gains, inflation needs to become a significant concern.
2. Please click here now. Double-click to enlarge this eight hour bars gold chart. An upside breakout seems imminent, but patience is required.
3. A breakout from that drifting rectangle pattern I’ve highlighted on the chart is significant, because it creates a much bigger breakout on the monthly chart.
4. Please click here now. Double-click to enlarge. Gold is almost ready to begin a significant leg higher!
5. The US presidential debate had almost no effect on the gold price, and that’s because most of the questions had nothing to do with the economy.
6. On that note, please click here now. Double-click to enlarge this interesting 8 hour bars chart of the Dow.
7. The US stock market initially rallied after the debate, but it’s since given back most of those gains.
8. There’s a clear bear wedge pattern in play on the chart, and that follows a breakdown from a head and shoulders top pattern.
9. The bottom line is that the September – October time frame is crash season for the US stock market, and the situation is grim.
10. Who won the debate? Well, mainstream media is essentially socialist, and they say Hillary won.

This post was published at GoldSeek on 27 September 2016.