Is Gold Up for the Challenge?


Last week,  we walked through the key vibrations/levels in gold.

To recap, 1262 ties to 360 degrees up from the recent swing low of 1124.

1284 vibrates off the all-time high price of 1921.

Two cycles of 360 degrees up from the bear market low of 1045 ties to 1319/1320.

A 5-year declining trendline ties to roughly 1320 as well.

While gold was above 1320 last year, it failed.

However, on a second try, a second mouse should get the cheese for bulls.

A move above the election pivot high of 1370-1377 should see explosive action.

1377 vibrates (180 degrees) with April 19/20 and that 1370 vibrates (180 degrees) May 5 — May Day.

At the same time, 50% of the gold bear market ties to a price of 1483.

1483 is 90 degrees square May 5.

Interestingly, the 2401 SPX high is 180 degrees straight across and opposite May 5 as well.

Gold eclipsed 1262 and 1284 and looks like it is coiling below 1300-1320.

In my experience, when an item spikes above resistance, it usually either pulls back or fails rather than continues.

When an item consolidates below an important level, it often times means it is coiling and mustering strength for a challenge of  resistance.

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1 comment
Yogesh Pandey says April 19, 2017

Very well defined sir… fortnight coming up is going to be very crucial for gold as well as equities….it could a fortnight of reversals.

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