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Before we get all ga ga, lets look at
history and see what
the statistics tell us about what has
happened to Gold
prior to now.
Clyde
Also,
Below is an 22% swing chart of contnious gold
from 1975 with some fibonacci relationships.
The histogram at the bottom in read is a
summation of fib time cycles for swings of minimum 22%.
The higher the bars the more hits.(in order to
keep a clean chrt only the highest bars are shown)
This study is a projection from the 1996 top .
Fib wise, there is a case for higher goldprice,
since the projection suggests a trendchange in february (actual in March it
looks like)
The chart also suggests a minimum of 22% rise to
$312, Clydes 325 looks quite in order to me, before we se apullback (and then,
let the bullmarket begin....!)
Watch again how gold price is teasing with
important resistance levels. This time the 78.6% level which (according to
Robert Miner) is the the largest pullback we can accept and still be in (this
time) a Bull Market. Also notice how promptly the test has been
rejected.
the AB trendline will next month (june) be at
300, so that could also be a profit taking level
stig
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Attachment:
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