The Gold Uptrend As Seen Through Multiple Timeframes

I was looking at gold charts on kitco.com today when I noticed something rather interesting, and in my opinion, rather bullish. Kitco has a neat little multi-timeframe chart grid that gives a great snapshot of the gold market from 30 days all the way up to the last 10 years. There is no better way to invest/trade successfully than to utilize a top-down approach. In this case, we start with the 1o year chart and notice a long term uptrend (+1 point). Next, we move on to the 5 year chart…uptrend (+1). Onward and upward to the 1 year chart…uptrend (+1).  Six month chart…uptrend (+1) Drill down a bit more into the 60 day chart…no surprise here, uptrend (+1)…same goes for the 30 day chart (+1).

We now have six uptrends across varying timeframes ranging from 10 years to 30 days. If you’re a daytrader, the trend is your friend. If you’re a swing trader, the trend is your friend. If you’re an investor, the trend is your friend. Make no mistake about it folks, the gold uptrend is long and strong. Some might ask “but what about the potential double-top evident in the five and ten year charts?” My response to that question is as follows: If you are too scared to jump in here, and think we’re going lower, wait for support at $700.00 conversely, if you have balls of steel and think we’re headed for the most disgusting bout of inflation the United States has ever seen, you jump in balls deep and buy gold.

Disclosure: Long Gold for the long term