informedtrades
Long

June 9 Price Target for Gold is $1438

COMEX:GC1!   GOLD FUTURES
434 0 0
I'm a long-term bull on gold             who anticipates gold's price rising to at least $5,000 -- an estimate I regard as very conservative -- and so I am happy to continue accumulating at well-established support levels. I believe the recent lows of $1180 reached at the end of 2013 constitute a major support level, the recent highs of around $1380 established in mid-March constitute a swing high, and the lows of around $1275 in early April as another swing low. Mapping these into an AB=CD pattern , we see a price target of approximately $1438 on June 9, 2014.

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