1520-1530 support vs 1130-1140
when we broke the key 1520-1530 support level a few years ago price dropped $200 in two days, yesterday we broke key 1120-1130 support and "so far" this morning on day two prices are trading near 1100. It never has to or does happen the same way, but IMO if we don't keep accelerating sharply lower today/tomorrow then this break of key support has a good chance to be much different then the previous one - meaning this could be an ending pattern vs a third wave, we see
BSing away
Senor
Gold closed just above 1130 today and I view that as an initial bullish event, not decisive but "initial".So once again the break of previous lows did not at all lead to a plunge like we saw when 1520/1530 support was broken, the print low was near 1077. So IMO given the wave count and "potential" MT and LT pattern completion along with the daily/weekly/monthly technical divergences into the recent new bear market lows, one has to seriously at least "CONSIDER" that a major low is in place. Add to that the 2-3 week miner collapse/capitulation that saw the HUI/Gold ratio go to the most extreme levels ever seen and it is MUY interesting here.
And sombreros off to SENOR HADIK and his late July forecast for KEY cycle lows in gold/silver - a FUKKIN bulls eye so far!
BSing away
Senor
Edited by senorBS, 19 August 2015 - 02:55 PM.