zondag 23 juli 2017

Gold Update

# Gold most often starts a Primary cycle with a nominal 6 week sub-cycle. Gold is currently 10 td’s along it’s second nominal 6 week cycle trough which occurred on July 7th.
# 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...


# I had been looking for Gold to rise into the July 24 – 28 time frame.
# Watch for a sharp move in Gold July 27–August 6. If so watch Gold to make a low in July / August then up.
#  The following chart shows seasonal tendencies for Gold. The 2nd half of the year, on average, is up...


# I was looking at precious metals being the potential trade of the year. The “Trade of the Year” but there will be pullbacks. We may be delayed.
# I was expecting Gold to find support in the $1180 area if it gets down that far. Instead it got support at the 50% retracement level around 1210...