Charts of Gold and Silver are now showing a seldom seen phenomenon – a 3 fan-line formation. I have only seen a couple of these formations over the years, and they have always been explosive.
By Goldrunner, long-time contributor to munKNEE.com – Your KEY To Making Money!
Gold & Silver Showing A Rare 3 Fan-Line Formation
- A break in price up and out of a three fan-line formation can allow price to simply cut through a large amount of overhead resistance easily creating a price “ride on a rail” higher.
- Assuming Gold and Silver will now rise higher, this formation could see Silver and Gold fly over the next 3 months, with Silver potentially rising all of the way up to as high as $50 target.
Below, is a Stockcharts log chart of the historical 3 fan-line formation that started the Gold Bull back in 2001…. a ride on a rail.
Arithmetic Gold Chart Shows 3 Fan-Line Formation In Progress
The current arithmetic gold chart below also shows a potential 3 fan-line formation in progress and were this to occur it is logical to assume that gold would rip through the overhead resistance within the current time period.
Arithmetic Silver Chart Showing 3 Fan-Line Formation Resolution
The Silver arithmetic chart below shows that with a resolution of the 3 fan-line formation there is the possibility that a 3 month accelerated rise up to around $50 could eventually play out, just as it did in the 5th wave run back in 2011, and that would not be unexpected given the recent massive Dollar printing recently. I think we are about to find out.
For the moment, GOLDRUNNER, 11-07-20, [email protected]