zondag 18 juni 2017

Gold Update

# Gold appears to be putting in the nominal 6 week cycle crest on June 6th. We should be going down to the nominal 6 week cycle trough over the next 1 to 2 weeks. This is very important. We want to see a 6 week cycle trough and then a move up. If we continue down Gold may be falling into a longer term cycle, the 34 / 17 month cycle. For now we wait for a 6 week cycle trough.
# After the Primary low is in I’m looking for precious metals to start moving up. By June / July watch Gold increase. I am looking at precious metals being the potential trade of the year. The “Trade of the Year” but there will be pullbacks. We do not want to start a slide into the 17 /34 month cycle...


# The next chart is a longer term monthly chart showing the 7.4 year cycle in Gold. They are the red vertical lines. Note that the 7.4 year cycle put in a low in late 2015. We are now in a pull back but we are early in the 7.4 year cycle which should be bullish in the long term...


# Gold only gave us a 3-wave bounce from early Tuesday into early Wednesday before being slammed down hard after the Fed rate hike and future guidance. We're looking for a 5th-wave down by Sunday/Monday and then a bounce. Gold looks like it needs a 5th wave down below Thursday's low at $1252.7 and this could mark an important low....