zondag 9 juli 2017

Gold Weekend Update

I was looking at precious metals being the potential trade of the year, but there will be pullbacks. We may be delayed. Gold has continued Down! 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...


# Note Gold is sitting on the 50% Fib retracement. Based on the above I would expect Gold to move through this level. $1180 may offer support...


# 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...