Is gold a buy here? Chart of the Day - Gold more than quintuples over the past decade

Gold's being discussed again, and I'm glad the folks at "Chart of the Day" are showing their long-term big-picture chart again. Quintupling means 5x which is potentially a Fibonacci extension, in concept. Raymond Merriman discussed gold and silver yesterday too (see that as posted on this blog, last night). I'm aware that Tony Caldaro has it reaching up toward a third-wave completion of some level. I'm also aware it's now above the Fibonacci number level of $1440 (to the US dollar). Basically I really like gold, but I'm considering looking for a better entry point. So - first let's look at Chart of the Day, from http://www.chartoftheday.com/20110415.htm, and then I'll post my own gold ($GOLD continuous contract) after that:

Chart of the Day Today's chart provides some long-term perspective in regards to the gold market. As today's chart illustrates, gold has been in an extremely strong bull market since 2001. The pace of that upward trend increased beginning in mid-2005. Following the financial crisis of late 2008, gold once again increased the pace of its ascent. Currently, gold is making new rally highs and has more than quintupled in price during its ten-year bull market. As today's chart illustrates, however, gold is approaching long-standing resistance (red line) of its accelerated trend channel. Notes: - Does the gold rally continue or is the party over? The answer may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus. Rate today's Chart of the Day Excellent 5 4 3 2 1 No good By voting every day you help us get you the charts you want to see. Quote of the Day "Regardless of the dollar price involved, one ounce of gold would purchase a good-quality man's suit at the conclusion of the Revolutionary War, the Civil War, the presidency of Franklin Roosevelt, and today." - Peter A. Burshre Events of the Day April 18, 2011 - Personal income taxes due in 2011 (US federal tax; some states may be 4/15)) April 18, 2011 - Passover (1st day) - Pulitzer Prizes announced - Boston Marathon April 22, 2011 - Good Friday - Earth Day April 24, 2011 - Easter April 27, 2011 - Administrative Professionals Day April 28, 2011 - Take Our Daughters & Sons to Work Day - NFL Draft begins (ends April 30th) Mailing List Info Chart of the Day is FREE to anyone who subscribes. -- To subscribe, enter your email address Journalists and bloggers may post the above free Chart of the Day on their website as long as the chart is unedited and full credit is given with a live, do follow, text link to the Chart of the Day homepage.... http://www.chartoftheday.com. Chart of the Day is provided to subscribers without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use.

And now, below: These are my daily, weekly and monthly charts of $GOLD. Still in bullish channels but it's reasonable to consider that gold may complete a 5-wave move of some proportion.