Gold

NEXT ENTRY FOR GOLD?

Gold already hit the first target we discussed in previous blogs at 2222. What’s next?   For those who like markets that go up and accelerate, this is the best thing out there except for Bitcoin and tech stocks are close to the end.  We sense a Black Swan event the week of April 8th that will push gold sharply higher and patterns suggest that it is about to enter a 3 of 3 acceleration.
 
We have to start watching the June contract which is trading 22 higher as rollover approaches into Thursday.  If the B wave bounce is completed by April 1st,  gold looks lower into April 3rd and 4th.    The b wave bounce could go to at least 2198 but more is possible.  The market fell too much last week to think that new highs could develop by April 1-2nd but it is not impossible. At the moment the buy is April 4-April  15-16th and if all goes well, that would be the 3 of 3 advance.

The projection for a 2nd wave low for an entry in progress suggests at least 2138 or max. 2110.  We like GLD in the 195-197 area and GDX closer to 28.25-28.50.  Under 2100 for gold futures and  a meltdown to 2005 is possible but not favored

We tend to get so micro-orientated but the big picture is much higher gold over the next few years as the reality of the world banking and debt crises manifests in a bigger way.  Long-term investors can at least focus on the July high short-term this year.

Gold is in the first of the 3rd wave up and that means the 3 of 3 acceleration will come starting April 5-16th   T

APRIL CYCLES: There is a high into mid-April and it could easily get to 2300.  It could take longer with cycle highs for gold into May and June also.  We are getting close to the last sane entry without extreme risk and gold looks higher into next year and later in the decade as the currency crisis is heating up.
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