So, in order that our readers may learn to profit more fully from Turk's incisive technical analysis, I will set out here some of the basic techniques that he uses, with a view to showing how trade-able conclusions can be reached that will ultimately lead to enormous gains in your personal wealth.
To make things easy, I'll break it down into the three possible cases: an upward-moving chart, a downward-moving chart, and a static chart.
How to interpret an upward-moving chart, à la Turk
On 27 February, Turk gave an interview to KWN entitled 'something big is about to happen to gold and silver.'
Turk's comments: "It is remarkable to see both metals hold their gains with no profit taking. Clearly, traders see something big is about to happen, and so do I... Right now I expect to see the purchasing power of gold to increase...The wind is at the back of the bulls in both the gold and the oil markets."
Apparent verdict: An upward chart is wildly bullish for gold.
How to interpret a downward-moving chart, à la Turk
On 25 September, Turk gave an audio interview to KWN.
Turk's comments: "...Today's a good day for accumulating ... My guess is that going forward from here the safety element is going to be more important than the liquidity element ... Gold is the best safe haven of them all... so I would expect to see a sharp snap back in the precious metals' prices over the next week."
Apparent verdict: A plunging chart is wildly bullish for gold.
How to interpret a static chart, à la Turk
On 20 April, Turk gave (...yes, you guessed it...) an interview to KWN.
Turk's comments: "The spring is already coiled, Eric, but it is being wound tighter and tighter by this relentless testing of support. For more than a month, gold and silver have been confined to a very narrow trading range ... The precious metals bend a little with these bouts of selling pressure being put on them, but they come right back, which is why I describe them like a spring being wound up. So when this spring starts to unwind, which it will, look out above."
Apparent verdict: A static chart is wildly bullish for gold.
So there you have it! It's easy when you know how. Praise be to James Turk for the benefits of his eternal charting wisdom. Having examined all three analyses, I'm now off to buy some gold (from GoldMoney, of course...)