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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: chris714 who wrote (14252)	7/1/2013 2:18:53 AM
From: ajtj99	2 Recommendations Recommended By chris714 John Pitera Read Replies (1) \| Respond to of 33421

The XAU trading box is from 80 to 110, so the upside target is 110. However, there is a possibility the structure of the move up may morph into a weekly inverse head and shoulders bottom, which would in turn extend the upside target to XAU 140, a 75% move up off the lows. The upside target for GDX is about 31, about a 40% move up off the lows. If that area morphs into an inverse H&S bottom, the target would become around $39 to $40, or about 75% up off the lows. The initial lower targets have a very high probability of success, IMO. The upper targets seem quite plausible, but it is too early to assign a probability to those coming to fruition. The lower targets timing would be sometime in mid September. The upper targets would be early to mid October if they were triggered. This works with seasonality for Gold as well.