He is also claiming that we move higher before tanking this summer.
If anyone hasn't read this post, you really need to take a close look at it his breakdown, I know its just one mans opinion but its worth a look at, especially if your on the sidelines wondering what to do.
Message 29474153
I agree that we are due for a run higher, as we are in that process of right now, but I dont think its sustainable.
MUX has moved off its low while failing to keep some solid gains in the mid $2.50s today.
I've been calling for a move back up to the $2.58/60 and also for a fill of that pesky $2.34-gap and also a move to the $2.30-pivot, which has not materialized, maybe this is all we get, ... and come Monday, it slams right through the $2.60 as it moves into the $2.85/95 range by next weekend or sooner, I dont know, it sure is possible.
No ones always right all of the time, we are no exception
But I would have more confidence if gold was to have at least moved and closed above its pivot at $1,309 (blue line) this week.
I still see a weekly pivot that still open down at the $1,256 (brown line). If we can move above the $1,309 early next week, we could see the area your pointing to, the purple line. One DOJI is not enough conformation, we need follow through, (we need it in the way of a large green bar next), ... and we will get something, ... one way or another next week.
One good thing we have that's going for us this week is that Gold held up above that gray line, which are in line with the opening prices. A trendline off the low is invalid on this chart, it leads directly to this weeks low or cuts right through the middle of last weeks center.
We have to do our one TA as best as we can, no one knows where all this is headed, .. not even the crooks that are baking it, it could backfire on them with one explosion at the right time in the right place.
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