Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Wade who wrote (29806)	7/14/2011 5:42:17 AM
From: TheSlowLane	1 Recommendation Read Replies (1) of 48092

He thinks the parabolic move in gold to astronomical levels may have gotten pushed back a few years...but it has not been cancelled. Thought his roadmap is worth noting at least: Gold is approaching August and what happens after Labor Day is going to be very interesting. Gold so far has not rallied as did silver. It lacked the energy stored up within it to have any real meaningful crash without going up first. As I have been warning, support in gold seems fairly solid at the 1000-1300 level. This in itself suggests that we are likely to see a final burst to the upside perhaps going into the last week of August before there is a correction, but still there appears to be support at the 1000-1300 level regardless of how high gold could rally. The Weekly Breakout Line stands at $2550 for the last week of August, which would be the maximum resistance target that is still within a NORMAL trading cycle. Even the Projection Line from the 1999 low now stands at $2600 for this same time period. The more contained resistance will stand at the $1700- 1730 area defined by the 2009 uptrend channel pictured above and slightly lower on the Monthly Primary Channel. The exponential price rally in gold still appears waiting in the wings for the years ahead. The key area to watch for year-end will be last year’s close of $1421.40. A close below this area would imply a retest of support for 2012 before a surge back to the upside. A close ABOVE this level will warn that 2012 will produce a new high, but we could then retest support for up to two years into 2014 and rebuild again with the high being extended even further out most likely into January 2020. That would be forming at an astronomical new price level depending solely upon the monetary system. The dollar as we know it will disappear.

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