Tuesday, 1 May 2012

Bullish Gold Miners

A number of writers I like suggesting something positive in the wind for gold stocks

The Cara Team - identified this period for some time now.
Bob Hoye
Jeff Kern - Ski Indicators
Stewart Thomson
Gold Scents

A number suggest the possibility of a final puke first .....

Jim Sinclair Quotes Alf Field's Elliot Wave analysis of the gold price
Gold has Bottomed, Alf Fields
Elliott Wave Gold Update: In the article “What Happened to Gold” dated 1 March 2012, the “other possibilities” mentioned in the event of gold dropping below $1650 related firstly to the 61.8% retracement of the prior rise. The prior rise was from $1523 to $1792, so the 61.8% retracement was $1626. There was a further possibility of the retracement being 2/3 of the prior rise, also a Fibonacci relationship. That produced a figure of $1612. The first number $1626 did provide some support to the market but the absolute low was $1612.8 on 4 April 2012. This low came at the culmination of a double zig-zag correction, which adds to the validity of that low. The odds now suggest that the gold correction bottomed at $1612.8 on 4 April 2012 and that the gold market is in the early stages of a sharp upward move.
Apr 28, 2012
Alf Field

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