Replies to post #33322 on GOLDBUGS AMEX Goldbugs Index (GOLD)

[Sparks111111]

I've looked at 100's of charts on stocktwits, investors hub, etc...

I've never ever seen a chart in my entire life that has predicted the outcome of gold, not even close...there's no point in even trying...but it's fun anyways.

Gold will do whatever it wants...my prediction, banks are in the process of loading up big time for the next financial collapse.

Here's the chart I follow:

2017, gold will be above 3000. There's my prediction...the next DOW crash will be just as violent. Any day now...any day...smoke and mirrors until then...look how desperate the look trying to hold it above the resistance...it will fail miserably.

Dow target = under 6000

Talk in to the microphone, because I can't hear you
https://www.tradingview.com/x/b2MVna3w/

[123tom]

I agree RB.
what will be interesting to see would be if the price can be driven to lower lows ,below 1180, testing 1120 area? hard to imagine. I believe it will 'bottom' wherever/whenever China decides to buy more. and India.

same with silver. although that silver chart just looks weak to me. All we have to see is a plunge below 19 toward 18.50 and then a failed bounce back at 19 , to see more selling step in and take silver to 18 easily.
I just don't see silver chart looking bullish these days.


These charts and miners charts make it look like that saying "sell in May and go away" might be in the works this year.
The entire year since April 2013 has been a down wave of lower highs and lower lows. for metals and most miners. and now, in recent years, its not jut a 'Summer bottom' season, but another bottoming time in December. How Downward does down have to be,in order to see that these have been continuous down seasons. since 2011,and some miners since 2007.

There was Technical reason in 2011, watching charts, watching the pullback, to expect that the bullish trend, that still appeared ongoing, should hold at support zones, and continue the uptrend.
26 silver held support thru 2012. 1525 gold held support thru 2012.

Everything was Shattered into oblivion in April 2013. and has not recovered yet. hardly begun to recover yet.

I suppose one can go look at 10 year monthly charts and still see a bullish flag, and say, oh, don't worry, this is just a multi year correction....it will be over in a few more years. by 6 years from now, we will see a bullish rally again.

Oh, ok then.... we should go sit down , and take a long nap, I guess.

In a 100 year cycle, whats 6 years. gotta think long term.I guess. Rome wasn't destroyed in a day.