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Strategies & Market Trends : Aardvark Adventures

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Nov 24 3:59 PM EST

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To: ~digs who wrote (1848)	12/8/2005 7:18:47 AM
From: ~digs	Read Replies (1) of 7944

Arthus on Gold/Silver: The current behavior of Gold is well into a final wave 5 of the major up wave that had started in April 2001. The position of the stochastic indicator shows without doubt the extension of the major up wave. The entire cycle is not over. Once the intermediate wave makes a top, a consolidation in wave 4 will take place (12 to 24 months) followed by a new up wave towards the targets of which I believe will surprise us by testing the highs from 1980 to at least $800. For now, it is necessary to concentrate on the end of the current up wave. There are no signs of reversal at this stage and we should let it go. The XAU has a target at 150/155, the CRB still has room to 360, and Silver has a first target to 9.00/9.50. Copper has still not shown a reversal. The situation is overbought, but the commodities often form a top thanks to a strong extension. Gold: For the short term, the level at 520/525 is a minor target. The level at 520 was touched upon for the February 2006 contract. I expect a pause at these levels for a pullback to the support levels at 505/500.

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