by Peter Degraaf
Gold Seek
Phase One began in January 2016, and slowed down from July until early October. (Charts in this commentary are courtesy Stockcharts.com, unless indicated).
The first sign of a turnaround can be seen in this chart:
[…] Featured is PHYS the Sprott Gold Trust. Price produced an Upside Reversal (blue arrow), on Oct. 7th. Since it happened at the bottom of the rising channel and at the 200 Day Moving Average, this was an important clue. Confirmation occurred on Oct. 18th, with price breaking out above recent congestion. (See the zoom chart at right). The supporting indicators have turned positive (green lines), and the 50DMA is in positive alignment to the 200DMA (green oval), while the latter is in firm uptrend. The first target is at the green arrow.