|2017.01.06 Gold Cycle Model Chart|
The gold cycle model suggests rising prices for the metal into 2017. The model may continue to shift the predictive curve to the right. Even if it does, the sharp slope of the predictive curve suggests that the price should not drop significantly going forwards. I have seen predictions for a much lower price for the metal, some well below $1000 which according to the model would be very unlikely. Whether the model remains somewhat useful going forwards will be determined in the next few months. My pattern recognition neural GDXJ medium term trading model went positive at the end of the 2016, so that it is aligned with the cycle model, at least for now.Below I show the previous iteration of the model, also here on the blog.
|2016.12.02 Gold Cycle Model Chart|