zondag 25 juni 2017

Gold Update

# Gold touched $1241.7 early Wednesday and reversed higher. This could be 4th wave bounce into the 6/23 New Moon or Gold could have put in a nominal 6 week cycle trough. If so Gold should continue up next week. So, turn made?


# If it turns down there could be trouble ahead. 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, For now I’m waiting to confirm a 6 week cycle trough on June 20th. I am looking at precious metals being the potential trade of the year, but there will be pullbacks...


# 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...