SKI chart is showing that the gold price in AUD is in a true bull market since November 2022. The signal is alive and healthy and behaving exactly as it should in a bull market.
The traditional chart is showing the same price series but zoomed out for a better overall picture. One can see that the price pattern is sporting an inverse head and shoulders of massive proportions dating back to 2020 top. The right shoulder is in process of breaking out and considering the SKI bull market signal one should expect the breakout to be successful. The gold price in AUD is at an all-time high and the miners are 40% lower and that is not sustainable. So, either the gold price comes down or the miners price rocket. Based on the SKI chart I'd say the odds are that the gold price breaks out and the miners join the rally or, at least, outperform the USA counterparts.
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