Saturday, Oct 27, 2007
Wil gold correct now or run to $850
Gold Price: GOLD PRICE rise will ignite Wave 3 in shares..
For those of you who have realised the desperation of the situation and moved into gold/gold stocks. This is a tricky time for gold, will wave 1 correct now or run as high as $850?
If it does run to $850 then this sets the precedent for wave 2 and 3 to be absolutely massive.
Posted by sold 2 rent 1 @ 12:00 PM (592 views) Add Comment
2 Comments
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1. Techieman said...
In Elliott parlance to me it looks like we have had a second main wave - ie the sideways move in the sideways channel looks like an abc-c-abc Elliott formation which is bullish as the market "catches its breath". thereafter we have had the new 1st wave up of one less degree and the second wave should (after the abc-x abc)- be relatively shallow.
2. vfr said...
excellent graph.. Thanks for posting that. Clearly some of the bigger money is now buying as well.