Sun, Jan 1, 2012 - 11:35pm
I'm an irregular Turd reader and long time gold charter. If I knew how to post charts to this site, I'd do it (help would be appreciated). But since I don't, I've uploaded to the tinyurl site. Please take a look at the three charts whose links are below. Best if you view them in order from the top down.
What I'm trying to show is that several approaches are pointing to the same price and time target for the possible end of this correction.
Very few chartists use or understand the methods of Alan Andrews and Roger Babson which are among the best in my experience. (These guys have passed on.) Alf Field has been perhaps the most accurate gold price forecaster for this bull market, and I consider what he says. I included a method by Arthur Sklarew that presents a somewhat different way to draw a lower channel line than you typically see. He was a paid professional chartist in his day who worked in the futures industry and he found this method more accurate overall.
The bottom line is: Be of Good Cheer: the bottom is near!
If and as Feb Comex gold reaches 1488.10 this week of Jan 6, I'm making a major (for me) purchase of physical.
All the best for the New Year,
Edited by: Pete on Nov 8, 2014 - 5:21am