Gold- breaking above 6-year falling resistance

Below looks at the ratio of Gold compared to the US Dollar over the past 20-years. The ratio reflects that some long-term trends have taken place and the ratio is making an attempt to do something it hasn’t been able to accomplish in 6-years.

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The ratio broke above 6-year falling channel back in 2001 at (1) and then it proceeded to rally for the next 10-years.

For the past 6-years, the ratio has continued to create a series of lower highs and lower lows inside of falling channel (2).

Currently the ratio is attempting to do something that it has not done in 6-years, which is a breakout above falling channel (2) at (3).

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