Below are charts and comments from 56-year market veteran and analyst Ron Rosen:
“Eric, to my knowledge this is the only chart in existence that tells us when the next high and the next low for gold will occur. The turning points in the squares at the top of this chart are a golden gift from Mother Nature. I call them LTD’s. They are turning points specifically for gold bullion. Since this bull market in gold began a new high has occurred at every number [4] high and every grouped numbers [1] [2].
Gold is currently bottoming at LTD #3. The next high will occur at LTD #4. These turning points are not influenced by the Federal Reserve or any government activity. They do not care about who is buying or selling or how much they are buying or selling. They do not care about the ‘big boys’ or the ‘little boys.’….
The pressure on gold is not permanent in any sense. This decline is, as I have told you, similar to the series of declines just before gold took off in the 70s from $400 to $887.50. Those declines then were for the purpose of the last great shake of the gold apple tree prior to the move that gained the most distance over the least amount of time.
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