timwest
Long

XAUUSD - GOLD - WEEKLY - Trend is UP - Upside Targets Plotted

FX:XAUUSD   Gold/U.S. Dollar
750 8 12
Look at my previous "TIME AT MODE" charts on Gold             and watch this market develop and see that it is set up to rally to the upper 1200's level near 1300.

The downtrend has done a lot of damage to psychology and yet the Central Bank printing presses continue to pump out paper promises. The price of gold             has plunged as a percentage of paper promises or total credit.

The next event is to have gold             spend an entire week above the "mode" or frequent price of this current uptrend, then it could accelerate quickly and launch to sharply higher levels.

Tim Jan 9, 2015 12:18AM EST

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timwest PRO
2 years ago
Just so you don't think I have my mind with my "Sell Gold to Buy Crude Chart" - Here is what I am thinking: Gold might rally 10%, but crude could rally 25% in the next 2-3 months.
+3 Reply
2use timwest
2 years ago
I got that now as well:) i expect gold to be up
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timwest PRO timwest
2 years ago
add in the word "lost".... and it makes sense ... "JUST SO YOU DON'T THINK I HAVE LOST MY MIND"
+1 Reply
2use timwest
2 years ago
20% from the bottom already on some gold funds, so this was a good prediction
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Hit 1281 in 1 week.. expecting sideways until end Feb?
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ertekmali
2 years ago
thanks for it.
What is the next oppurtunitly to buy gold.
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timwest PRO
2 years ago
Target Reached - I'll work on a new forecast from here. Do NOT go short, in my opinion that is not warranted here. I'm fundamentally bullish on Gold here for several reasons:
1. It is a new year and Gold has momentum to the upside on news that the SNB has cut rates to negative -0.75%. This will spur cash flow into gold.
2. There is a strong disconnect between central bank money printing and the price of gold, which in the long run is counter-intuitive. Markets often act disconnected long enough to make people think there is no connection between money printing and gold, but I think the correlation has been in a period of hibernation. Gold has a long way to go "up" to catch up to the money printing.
3. World economies have weakened substantially and gold used to be a spillover investment from the wealth being created in the upsurge as investors diversified to spread out there assets, but with the economies weakening, the marginal investment has been sold off to help portfolios survive. The weakness is gold has been just a confirmation that the global economy has been weak. The rally in gold will really take hold and move prices back to $1500 to $1800 to $2500/oz as the global economy stabilizes.
4. Find levels of support to buy GOLD. I'll be looking at price congestions, retracements and "gaps" and single-days for the market to hold. I'll also be looking at other "key levels" that I will publish from time to time.
Tim 10:20AM January 20th, 2015
+1 Reply
IvanLabrie TOP timwest
2 years ago
Excellent summary, appreciate your insights Tim. All the best!
Ivan.
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