Warning!! HOT Warning!!! HOT Warning! HOT!!!!
I am bullish for gold for the following fundamental and technical aspects:
Technical Gold will test this $323 temporary resistance, I strongly believe gold will break this wall within hours.
When that wall $323 broken, gold will strampede like hell within days, gold will be $340. That $323 BTW April contracts, is within $3.00 When that stampede takes place a big rally, the measurement of the objective is computed as follows : It looks like a huge Head and Shoulder reversal pattern,
$323 -253 =$70.00
Next MOJ is computed as $323 + $70 =$393 in that 1996 era.
Now As we know gold go hand in hand with CRB index, today CRB confirmed its uptrend decisively.
CRB is also formatting that huge beautiful and GORGEOUs Head and Shoulder Reversal Pattern,
Indicating CRB will targetting that 240, again 1996 era, too.
Moj of CRB is computed by
210 - 180 =30
next target of CRB will be 210 + 30 = 240.
There is no doubt, history repeats by itself.
Now funadamental, gold gained Support as CB cut sales and landing stuff, now Gold major stop hedgeing or reduced, and now CRB, inflation indicator is on the threat, so golsd will be $393 within 6 months or so.
Also, another good indicator is that DOW index, Dow closed today at year y2k lowest, indicating inflation threat is here and it is huge.
Watch that Gold breakout that $323, then that $393 is confirmed.
I have been buying JUNE $360 gold CALL contracts, lots lots of them. When gold breaks that $323, I shall jump the "GUN" and double my June contracts CALL.
Go figure.
John Paquet |
