Chart of the Day – Dollar, Gold and Silver
$USD – If the dollar gives us a normal duration intermediate cycle, it will not be due to bottom until September or October.
$GOLD – Assuming gold continues to decouple as the dollar completes its final intermediate rally, we could see gold trend generally higher until fall. I would think a reasonable target by then to be be between 1450 and 1550.
$SILVER – The pullback in gold was a bit shallow at only 38%. But silver retraced 50% and that is a completely normal intermediate cycle decline.
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Thanks Gary.
Gary,
The May low would be YCL for Gold then. The next ICL or the one after would have to be left translated to form a YCL?
Intermediate cycles don’t usually left translate in a bull market.
If GDM go over 760 it’s possible that it continue following fibonacci untill 1500?
perhaps next pivot high HUI anywhere between 320-370 based on fibo projections
What is the reason for decoupling of dollar and Gold? manipulation?
You’ve given up.
Translation
I was wrong.
HUI is already 140% up from its lowest 99, review historical price action in bull market, when HUI was going up to 130-150%, MUST have a 5-6(even 1 year) months consolidation. I am little bit worry about GOLD and MINER is just in this period. Will see.