the_sunship
Long

Gold - another leg up for my Precious!

COMEX:GC1!   Gold Futures
Completed an ABC today for the 1 (of 5) wave and ended the day above heavy resistance (1492) Very bullish sign! Also nice hourly bull divergences have been building the last few days.

If we fall below 1492 and fail to regain it, that would be bearish!

Silver looks good as well although the chart is a bit messier than Gold .

Gold should reach 1580 area within a few weeks, and then over 1600 - will update when/if target is hit.

Stops set below today's low.

Good luck!
Oct 16
Comment: one more leg down, but I think that should do it for the correction on gold. Today we started wave 3 in my estimation, first target 1510 area
Oct 16
Comment:
Oct 19
Comment: Gold - still no impulse. Friday had no gains while the dollar and market tanked, I'm raising my stops to break even. It's not acting bullish at this time.
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