IS GOLD FINALLY GOING TO GET ITS FINAL WASHOUT I HOPE???

Failed below $1200 again. How many more times can this shit go up?

I think you are right. It keeps failing to break down and what doesn't go down has to go up, so...

I hope so. I want to get short but not from these low levels.

There it is. Hope we can make it up over $1224 and to $1240. There I will most definitely start a small short position.

At least I was right for once. I literally felt that stubborn energy pushing this thing up, lol. Yep, hope we go as high as possible now to exhaust this for good.

Maybe we consolidate for some days and then top by end of month. Man oh man I hope so!

Indeed. :D

May I ask where you get the $1224 and $1240 numbers from? $1224 is the top of the current bounce I suppose, but what about $1240? Just guessing?

I really don't see how the Euro can go much higher from here. That's a thick wall below 1.15 to get through...

Yes, just a guess based on drawing lines.

Ok, so Armstrong fucker is saying a pop in gold is probably through the summer and then a turn back down into fall. That makes sense since his 1st set of benchmarks for the final low are late this year. So 1240 is way too low. According to him we could reach at least $1309. That ought to draw in the bulls and then...WOOOSSHHHH! Down she goes.

Coming to the final moves now.

I gotta say...if gold goes above the last high I'm gonna seriously doubt we see new lows afterwards. Armstrongs timing is amazing but his price targets not so much. He was way off on the prices of the 2011 high. Timing was perfect.

I hope he's wrong and it won't take until fall for the downturn to start...

He can't be right about every single thing, can he? lol

True that. At the same time I wonder where this momentum should come from to take us back up to $1300.

The weekly chart doesn't really look bullish to me right now: [link to finviz.com] See that recent huge (compared to its environment) bear hammer that had no follow-through whatsoever? It screams "breakdown" to me, but what do I know...

Im with you. Here I thought there was a good plan to short and now a huge rally?

GDX is holding back. Maybe its about to break out too?

Here you go. Take a look at the last chart (#8) and it shows how we can make it up to the $1309 area and still be within the downtrend.

I like Ike. He is one subscription I pay for and its cheap. $200 yr. I signed up through Swanson and got a 50% discount.

I do not think we will make it out of the downtrend before we roll over again.

wallstreetwindow.com/node/11605

Thanks, very interesting. So he is essentially saying the same as you and Armstrong, i.e. that the Dollar will rocket higher than 100. That would imply that we might find the bottom in gold simultaneously.

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.

Btw, what's interesting is that the Dollar daily chart immediately reminds me of the Gold weekly chart since the 2011 top: [link to finviz.com]

The entire pattern looks very similar and if you take this analogy it seems we just had the (much briefer) consolidation after the initial crash and will now move further to the final low (around 91-92 according to Ike) where we then start to move back up.

I was thinking the same. It will be very interesting if gold rises with the dollar and goes above $1239. Apparently my rough drawing of the lines was very close to the breakout or breakdown point! ($1240)

Really changes my plans though. I prefer to see us go all the way to $1309 and then breakdown hard. We could still breakdown and go sideways until June and THEN the rally to $1309 could start.

Interesting spike there in silver right now. Is the market trying to top out already? Probably not, but it's still interesting.

The short term gold chart still looks extremely bullish to me.

Yep. We will have to see where the bears come back in in size.

Hm, wouldn't surprise me if the Euro has topped already... chart-wise this high is a very good point for a reversal.

And suddenly the Euro looks really ugly...

Indeed quite a reversal in the dollar/ euro pair. Will be interesting to see what gold does. Like Armstrong fucker said, they may start moving together. Seems that way.

For me when Gold breaks back below $1200 this current rally is finished, before that anything can happen.

This is elemintery strong fiat dollar is boosted by keeping silver & gold down. How long can they keep this monopoly money going is the Question a reset will spike silver at 200.00 a oz for starters.

Pretty sure we get a reversal from here or this gold already looks quite shitty again, lol.

gold has been on a tear and silver has seen some nice gains.