2 replies to this topic

[Woody]

Just playing around with lines on a weekly, $750 still lokks like a magnet for a correction, more than likely corresponding with a countertrend rally in the Dollar.....and also corresponding to a 23.8% correction if similar to 2006, and is approx level of wave 4 of a lesser degree........

Of course the question is from what level, Gold usually turns on a spike up, we dont really have that on a weekly chart, so maybe as Dharma points out we are coiling for a run to $1035 +/- there are some Fib Targets at $1088 as well, maybe we will get close on March 18 if Fed gets aggressive or maybe everyone is expecting that already, keeping a close watch on the dailies may help in that regard

Seasonal weakness usually in Feb-Aug period but that may have changed based on last 5 years action.

http://stockcharts.c...2897&r=7928.png

[kaotic]

That seasonal chart is way out of whack. The up cycle for gold remains intact until mid-May/early-June, then it's usually down until late-August/early-September.

[cgnx]

I would throw that seasonal chart out the window. Can you pick a worse timeframe for gold than the last 26 years? Except for the last 6 years that info is useless.