The Gold/Swiss Franc ratio has been the leading indicator of Gold for years
I pay a lot of attention to Gold priced in Swiss Francs (Gold/Swiss ratio). It has been a leading indicator for years.
The advance this past week has put the Gold/CHF ratio near all-time highs. A decisive close above CHF 1643.7 would be an all-time high and would indicate further strength, possibly an advance to CHF 1835/oz. The charts below show the Gold/CHF ratio on a monthly, weekly and daily basis.
Markets: $GC_F, $GLD, $USDCHF
Copper has a history with the compound fulcrum pattern
All chartists know about the H&S pattern, triangles, rectangles, trendlines, wedges, etc. But, what about the compound fulcrum? This is a rare pattern originally used with point and figure chartists.
Copper has a history with this pattern. In the 1970s Copper formed the pattern, as shown by the P&F chart I was keeping at the time (yes, I used to keep charts by hand). Copper eventually went to $1.40 from this pattern.
The daily Copper chart is completing an 15-week compound fulcrum, pending a decisive close above the early July high.
Markets: HG_F, $JJC