I'm completely new to looking at charts - first visual was when this blog started, so bear with me.
The daily chart to me looks like a pattern is forming (end of Jan start) with 1.5 month, 10% gain; followed by 2 weeks, 5% correction, followed by consolidating 2/3 weeks. Does this look correct and should we be expecting 1640 gold mid August, followed by 1560 gold at the end of August? Or are patterns like this fleeting and non-repeatable (to make up a word)?
I'm trying to use bollinger bands, and they seem to agree with this assessment. Key word being trying.
Thanks in advance
What chart are you looking at? I'm not a big chartist but Turd uses a simple way of determining price movements.
From what I've learned, he uses steps, triangles, support levels, and no-nonsense.
Bollinger bands.... not many people talk about that in commodities from what I've read.
Pailin's Trading Thread uses RSI when dealing with silver:
Not sure if this helps?