Gold Still Appears to Be On the Brink of Advance and is Showing Buy Signals

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As I have been tracking in recent months, gold prices still are unfolding basically as expected according to the outlined price pattern with somewhat of an inverted head and shoulders appearance.

We now have seen a reversal back above the horizontal line at the $1250 level which I mentioned was key support.  Technically, the daily MACD is in a buy signal now.  And using a momentum and moving average channel technique on the daily chart, it is also in a buy signal.  So this might well have been the low for this correction.  Additionally in comparison to common correction in gold historically, we are in the expected late stages of the price and time expectation for a correction.

Again, fall call options, GDX, GLD, or individual gold miners could all be ways to capitalize on the expected move.

I would highlight GDX, SIL, GOLD, GFI, HMY as possible stocks  and ETFs to analyze technically for buying opportunities based on price pattern and valuation.