Gold

short term bullish yes, also +div from recent lows ...like to see gold get upto 1520/40 - to short it down to 1200...

im happy to be patient.

Here's weekly view from a few days ago with a possible count on it:



dl.dropboxusercontent.com/u/20815047/FTS...LDweekly27_05_13.gif

Today's daily chart:



dl.dropboxusercontent.com/u/20815047/FTS...OLDdaily30_05_13.gif

Just wondering if that drop to the higher low could have been a failed 5th wave? There was a big hammer on the Silver daily chart at 20.2p, not far from the 19.5 target so possibly a reversal in play for precious metals?

Note how the rise for what I've labelled wave 4 of C hit exactly the 38.2% Fib of the wave 3 of C - perfect textbook EWT there. I'll have to look closer at the last drop - if it has 5 subwaves then it might be that failed 5th.

Hi J - your C is my BIG A-

current move up - projecting to 1500/1540 will be a BIG B (circa 38% retracment from ~1321-1900 or 1617/22 ( my number again) = 50%, then a BIG bad C to follow to new lows...

if that makes sense....

cheers WS.

Yep - makes sense. Only thing is you've then got your big wave A at near the 50% Fib of the whole rise from c. 700 so where are you expecting C to end? At the 78.6% Fib near 950?

I'd like to see the longer term view but can't get it on updata. Any chance you could post a monthly chart going way back to the moves prior to 700?

i'll put something up the weekend J - but yes im expecting at a min $1000, glad u mentioned those price targets...

here you jackozy...heres the monthly chart for Gold going back to 1968.
Im surprised that updata dont go back far. There normally real good.


dl.dropboxusercontent.com/u/4899609/gold30thmay.png