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Tuesday, July 19, 2011

Gold - closing in on its target


See the link below first for the longer term picture:
http://theelliottwavesufer.blogspot.com/2011/07/gold-consolidating-before-one-last.html

The rally from 1,478 is in the fifth an final wave up. We should see 1,620 tested as the minimum, but a more likely target area will be between 1,634 - 1,636, which could be the final top for the entire rally since 1999.

A more bullish count will have the rally since 1,478 as wave i and a decline to 1,575 as wave ii and call for a even more powerful rally in wave iii. I will not/can not dismiss this oppotunity and will not be overly surprised if we suddenly see a moonshot (vertical move) towards 1.700, but time will show.

2 comments:

  1. Thank you so much for your continued fantastic analysis!

    Your biggest fan Alesund

    ReplyDelete
  2. Hi Alesund

    Thank you very much. It's much appreciated!



    Kind regards
    EWS

    ReplyDelete