Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: SwampDogg who wrote (30960)	1/26/2007 10:51:16 AM
From: Claude Cormier	Read Replies (1) of 78417

- IMO the odds of a major correction here have gone up substantially in the past day. Certainly a possibility. The pattern at work in the precious metals market right now is a symmetrical triangle from May 2006. It may have ended at the lows reached in the first week of January, in that case the current move is only the beginning on our way to new highs. Or, gold will make another leg down reaching $575-$605 completing the long consolidation from May. I think that bot scenarios are possible. The drop to $575-$605 would be more "classic", but, by no mean, is essential. IMO, there is one other alternative, much less probable, and it is a prolonged correction well below the June 2006 lows towards $500 or below. But that is a remote possibility, I think.

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