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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 425.94

+1.0%

Jan 14 4:00 PM EST

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To: gold$10k who wrote (13332)	4/23/2008 11:59:28 AM
From: Claude Cormier	Read Replies (1) of 29622

I think we are going lower on the XAU 1) the trend from the August 2007 lows was broken in March so we are currently correcting at the August 2007-March 2008 rally. 2) The last correction from May 2006 to Augst 2007 was a long symmetrical triangle. Because of the rule of alternance, I see this one as a short A-B-C flat. 3) A and B are done we are into C. 4) I see the 150 area which was significant resistance during the last correction to become very strong support in this one. This would fit with my target of gold $775-$825 in coming weeks. By June we should be consolidating on a bottom and getting ready for the big move toward $2000. The juniors will start moving bg this summer. The above is how I see it. It is my best guess based on observation of the charts and my small experience. BTW, keep your analysis coming. I like them and they help me questioning again and again my own ideas.

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