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Gold/Mining/Energy : Precious and Base Metal Investing
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To: russwinter who started this subject5/27/2003 3:19:04 PM
From: Kaena™  Read Replies (2) of 39344
 
Possible Gold Scenario based on the 1999 low of 256 and my latest chart constructed on May 1st:
The most recent wave structure starts from Apr7th 320 - leg 1 takes us to 370 by middle of May, leg 2 takes us down to retest 258 by end of May, leg 3 up to 438 by middle of June, leg 4 down to 419 by end of June, leg 5 to 480 by middle of July.

So far using the fib ratios based on the 256 low in 1999, my charts have been pretty accurate and have reflected the peaks in the COT's short positions at the turning points for gold.

Based on my current chart, it's possible the COT's short position will not hit an extreme until 6 more weeks.

If we do go down and retest 258 and bounce, I may cautiously reenter with my trading position.

I can supply the fib ratios for anyone interested. But please understand, I am very skeptical of my own chart and ability to accurately use fibonacci ratios to determine the price of gold. I am sharing this because of my own surprise with how accurate it has been.

Comments welcome.
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