Gold Lunar Cycles
When Bob Moriarty first mentioned moon cycles being a powerful indicator in the gold market I immediately wondered if Bob had spiked his morning coffee with some whiskey. However, after following this indicator for a couple of years I have come to the conclusion that it has some value.
Like any indicator it certainly doesn't work 100% of the time, however, it works much more often than it doesn't work. The theory is that full moons tend to mark turning points or acceleration points for gold prices. Today we get a lunar eclipse, which is more powerful than an ordinary full moon. Will this translate into an out-sized impact upon the market and the gold price?
(Click on image to enlarge)
Just by looking at this chart of gold and full moons for the last year we can see more than a dozen full moons, with the vast majority also closely marking either turning points or accelerations in the gold price.
What will it be this time? My money is on an upside acceleration in the gold price. Let's see where gold is sitting at Friday's close.
CEO Technician: 14 year veteran trader & portfolio manager. Focused on commodities, junior resource stocks, and technical analysis..