Courtesy of Chris Kimble
Gold created a series of lower highs and lower lows for nearly a decade (Early 1990’s to early 2000’s). This price action created a 10-year falling channel. Once Gold broke above this falling channel at (1), it experienced a strong rally for years to come.
Over the past 10-years, Gold looks to have created another falling channel. The rally over the past few years has Gold testing the top of another 10-year falling channel.
If Gold succeeds in breaking above the top of this channel, which comes into play as resistance currently, it will send a positive bullish message to Gold.
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