Someone asked for Elliot Wave on gold. Here's two
potential Elliot Wave counts. Now both are bullish long term,
however one is more bearish in the short term.
Loved your gold analysis on weekend report. Printed out both
charts and have them hanging on my wall. please keep us posted as
to which scenario is turning out as this will be a nice long term
investment (one of the first in a long time). I plan to put 10% on
my account in gold but need a lot of help with the timing.
Posted by junkmaylbox on 16th of Feb 2009 at 09:21 pm
In 1970s $gold increased 27 times: from its low at $30 to $840.
If the upcoming move is at least as big as before, we should see
$gold reach $270*27=$7,290 per ounce. In fact, we have seen only a
triple from its lows, hence a 9-fold increase is still in the
cards.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Gold wave counts
Posted by matt on 16th of Feb 2009 at 04:03 pm
Someone asked for Elliot Wave on gold. Here's two potential Elliot Wave counts. Now both are bullish long term, however one is more bearish in the short term.
Gold wave count 1
Gold wave count 2
gold analysis
Posted by RM686 on 17th of Feb 2009 at 09:26 am
Matt
Loved your gold analysis on weekend report. Printed out both charts and have them hanging on my wall. please keep us posted as to which scenario is turning out as this will be a nice long term investment (one of the first in a long time). I plan to put 10% on my account in gold but need a lot of help with the timing.
A likely target for $gold
Posted by junkmaylbox on 16th of Feb 2009 at 09:21 pm
In 1970s $gold increased 27 times: from its low at $30 to $840. If the upcoming move is at least as big as before, we should see $gold reach $270*27=$7,290 per ounce. In fact, we have seen only a triple from its lows, hence a 9-fold increase is still in the cards.