THE LAST PRS IDEA UPDATE 2
NOTHING HAS REALLY CHANGED EXCEPT FOR HIGHER TARGETS.
Notes:
I am not doing the precision forecasts bc it's a waste of time. This is what I see, generally speaking to early November. Again:
1) I think 1910 holds today through Tuesday. But I don't need it to, to forecast this run. I need it more so for the November target.
2) If gold closes 1920, my November target is 2850.
3) For every 10 points down we move, chop off 50 pts for final target. For ex:
1910 - 2800
1900 - 2750
1890 - 2700
... and so on. All the way down to 1840. CLOSING under 1840 *MAY* invalidate this forecast.
What to expect for rest of September? Sideways to up, closes above 2015 and 2075 are obviously important. Fed meeting on 9/16, no break out statistically likely before this.
What would a conservative target be by November 10th? 2550.
What next after November? Correction depending on how high we get.
Notes:
I am not doing the precision forecasts bc it's a waste of time. This is what I see, generally speaking to early November. Again:
1) I think 1910 holds today through Tuesday. But I don't need it to, to forecast this run. I need it more so for the November target.
2) If gold closes 1920, my November target is 2850.
3) For every 10 points down we move, chop off 50 pts for final target. For ex:
1910 - 2800
1900 - 2750
1890 - 2700
... and so on. All the way down to 1840. CLOSING under 1840 *MAY* invalidate this forecast.
What to expect for rest of September? Sideways to up, closes above 2015 and 2075 are obviously important. Fed meeting on 9/16, no break out statistically likely before this.
What would a conservative target be by November 10th? 2550.
What next after November? Correction depending on how high we get.
Comment:
*** The ceiling for November is really high, more so than most people can see at this time. For what it's worth, I've chopped down the raw numbers I by 300 - 400 pts already. ***
Comment:
*** Again, nothing exciting until the week after FOMC. ***
Comment:
So a lot of work went into this chart despite it being so general. Here'es the work up:
Comment:
What if gold closes 1940 today, just to speculate? It doesnt really make projections higher bc the short term curves havent turned enough. What does that mean? Dont know any more until later next week but thats an impressive close considering the week.