Close

Will Gold Regain Its Luster ?

Will Gold Regain Its Luster ?
 

Since the bottom at the end of last year, gold prices have been steadily rising. This has prompted much discussion related to a new bull market in the metals having already commenced.

My analysis suggests that gold is still in a correction. I might refer to the rally in gold prices since the December 31, 2013 bottom, as just that, a rally, but a rally still within a bear market. Granted the bear market is getting old, with limited time left. More precisely, data analysis indicates the market to be in the final stages of a long term C wave that began at the market top of October 4, 2012. This C wave, is itself a part of the larger A-B-C correction which began at the September 9, 2011 top. Time projection analysis suggests the market will turn on February 19, 2014. I expect gold prices to decline into that time point.

An optimal scenario, would be for the market to take out the June 28, 2013/December 31, 2013 double bottom by this projected time target, and thereby clear out the stops held by current longs. A subsequent time target is projected for April 18, 2014. I suspect this could corrospond with the end of what could mark an initial leg of a long term bull wave.

To learn about my analysis, and how to set up for what could be momentous moves in gold, tune into my webinar presentation scheduled for Saturday February 22 2014, at 9:00 A.M. pacific time.

 

Register Now for the Upcoming Free Webinar

 

 

 

Leave a Reply