There is a mounting body of evidence to suggest that once again the precious metals may be primed for significant advances. When price targets collide with time targets, the balance that results is very sensitive and short lived. In other words, good points for entry.
The corrective moves of 67%, 65%, and 76% from the recent 08/28/13 price top in Gold, silver, and platinum, respectfully to the bottoms that formed in all three markets last week, conform with a Gartley precursor price pattern.
Please click on the chart below to make it larger.
Historically, 70% of corrections in the gold market don’t exceed a run time of two months. 55% of corrections in silver, occur within a similar two month window. Extending from the pivotal 08/28/13 top, by two months brings us to 10/28/13.
As a backdrop to all of these shorter term price and time correlations, the all important sixty year cycle, is orchestrating and setting up, from a macro scale, the longer term trajectories.
As W.D. Gann stated, “that a market will do what its going to do, only once its time has come”, I’ll curiously watch to see if the recent lows hold, or are taken out as we move through the early part of next week, coincident with the end of the market’s typical run time for corrections. So the market’s behaviour in the next week, could serve to some extent as an acid test, for determining the next major directional course for the metals.
Tune in to my webinar presentation this Saturday (10/26/13) at 9:00 AM pacific time, for the analytical procedures integral, to reliably determine the metal’s next move.
Register Now for the Free Webinar
