Users Online Now:
2,179
(
Who's On?
)
Visitors Today:
1,354,597
Pageviews Today:
2,243,802
Threads Today:
852
Posts Today:
15,278
09:50 PM
Directory
Adv. Search
Topics
Forum
Back to Forum
Back to Thread
REPLY TO THREAD
Subject
IS GOLD FINALLY GOING TO GET ITS FINAL WASHOUT I HOPE???
User Name
Font color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Indigo
Violet
Black
Font:
Default
Verdana
Tahoma
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 69246444:MV8yNTU4MzI5XzUwMzIwMzIwXzg3RkNBOUZF] One reason I still think we go to at least $1000 is that we still haven't seen any real washout. We had the brief crash in 2013 but ever since we have just been consolidating and the stubborn bulls have survived. Is this really how this bear market could end? Maybe, but it doesn't seem likely to me. And from a chart perspective this move down really just looks incomplete. Something is missing, the second crash that completes all of this. And regarding the Dollar, the thing just blew straight up since mid last year and after such strength that should have been it and we just move the same way back down? Makes no sense, especially because most people have already called the top. The suffering is not done for the Euro either, that would just be too good to be true. So I will go with Armstrong's theory and say that we start to move back towards parity (beyond 100 in the Dollar) in the next few weeks. It's actually good we have dropped so much in such a short time (from 100 to 93 in just 4 weeks), so we can hopefully move on towards our targets in short order. [/quote]
Original Message
Any gold bugs left? I've been waiting in the wings for what seems like forever - waiting for this bear market in gold to get over and done with. With todays sell off we might be close to seeing new lows in gold.
Dont get me wrong, Im still looking for very high gold prices in the years to come but I still think we're going to see $1000 gold give or take 10%. $15 silver give or take 10%. I repeat, we have NEVER back tested the $1000 level in gold - yet.
There is an uncanny resemblance to the recent trade range in gold to the previous one. Broken link below.
finviz.com/futures_charts.ashx?t=GC&p=w1
Notice the $200 trade range between $1600 and $1800 lasted for more than a year before we got the washout. The current range of $1200 to $1400 is almost an exact copy for time and price range and with the breakdown today we should plunge once we break $1200 again. It would seem $1180 is as important now as $1530 was in the last flush.
If the current pattern holds, the final lows in gold wont come until later this year or very early next year.
Incidentally, Martin Armstrong has said Jan 2015 is an important turning point for gold and that gold would rally strongly after his next ECM change Oct 1st, 2015. In another writing he also said a low in gold in 2015/2016 would be perfect for a blistering rally in gold thereafter that takes it to new highs in 2017/2018.
Just touching base with any gold bugs that might be left. Hang in there. Our time is coming but patience is still required. Probably better to hold GLL or DUST for the time being. A monster trade in NUGT and JNUG is probably not too far off.
Pictures (click to insert)
General
Politics
Bananas
People
Potentially Offensive
Emotions
Big Round Smilies
Aliens and Space
Friendship & Love
Textual
Doom
Misc Small Smilies
Religion
Love
Random
View All Categories
|
Next Page >>