Next Entry for Long 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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Where is gold headed?



Where is Gold headed?
Gold has to take out 2008 to issue a sell signal and then the max. a pullback would be to 1940 or 1923.  It is very overbought.  Cycles would give it a chance to hold up much of next week with next Tuesday being very volatile.  We have to favor the pattern of 2062-65 manifesting.  Above 2070, the market could explode.  We are not seeing too much to knock it down until after April 20th and that may be only brief.

We are getting too close to a 3-day weekend and overbought conditions to expect that upper targets will come in today.  Still, we like next week and we warned you that we do not see much weakness in the cycles.   The most bearish pattern would stop at 2065-2072 and pull back to 1940.  The more bullish pattern would allow 2178 next and confirm the May high to 2285.


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