Trends suggesting 1000 area for gold coming June 2014
medium and short term trendlines
Originally posted on Don Wolanchuk's silicon investor site, he is bullish as of march 28, 2014, based on the bands gold could break below the 150 ma, or it could bounce back up, it does not look that clear to me based on these bands. However my bias is bullish into summer, we'll see.
Gold should eventually go up to the top (gold line) which should take it up into the $5000 area. This does not bode well for the debt structures of government, as Martin Armstrong has argued, it is a loss in confidence of government that will cause gold to surge. Whether gold goes down to the red line (1980 high) before its 5th wave rally is uncertain at this...
update on previous chart, this chart has nice symmetry, stockcharts.com's pnf is projecting 1440 now, a summer rally should go up and test the crash gaps from last spring. After this summer Gold will most likely start down again going into Martin Armstrong's pi cycle peak of 2015.75 , Armstrong is looking for 800-1000 area before the final bottom and then at...
Gold Wedge with support trend lines
slv should find support on the lower trendling and eventually break above the upper trendline for a summer rally.
Long term trends showing overhead resistance lines which will have to be overcome for bullishness to continue.
top and bottom horizontal lines are Martin Armstrong's bottom range, $950 around early to mid March may be the most likely area that Gold will find its final low. Time projections were done using another indicator not on this chart.
downtrendlines with great symmetry
bullish channel which may stall out eventually before a final capitulation which is what Martin Armstrong thinks is coming with it going down between 850 and 1050 in the first Q of 2014.
gold with bullish divergences on momentum, rsi and volume
as Mike Paulenoff says GDX Gold Stock index looks like a powder keg waiting for a spark www.traders-talk.com
Gold's long term supports with rsi and elliot wave
Gold's long term support line with rsi
cci shows uptrend is starting to diverge which is bullish for gold
Argument from Ron Rosen 60 years market veteran trader who thinks the dow is going to crash and gold will go up... kingworldnews.com