Thursday, July 11, 2013

2013.07.11 Gold Cycle Chart

Gold is rising in accordance with the gold cycle model, or is it the other way around? The gold cycle model continues to suggest a "double-bottom" for gold, followed by a rise into 2014-2015. I am not a Elliott wave acolyte, but it even looks like a Wave 1 of a larger Wave V may have begun, which would put the next predicted low  in early 2014 as the bottom of Wave 2, followed by the strong impulsive Wave 3.

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