Can we spot any reliable patterns? Gold often makes these 100 dollar moves. would we be seeing the current one target 1280? or would it be from the latest pivot low 1210 to 1310 ?
IF you start at the 1167 bottom,you get 1267/1270 target. There was a past peak around 1270 area so its a target zone. There is Fib math targets at 1300 area and 1345. many target points to consider. The Elliott wave structure shows the overhead resistance target zone (1260-1270 area is a Wave 3/Wave C resistance zone that could get turned downward IF the Cartel decides they need to keep Gold suppressed . The basic low zone that looks like 1200 has 1300 as a big target, and the Cartel will need to keep it under control there. I like to see the "Bottom" as being closer to 1180 rather than the spike to 1167. but measuring from 1170 is worth also doing. You have a past top at 1370 so 1170 makes easy math, and makes the 50% fib target at 1270. So that 1270 area ought to be watched soon if it gets capped there and sent down again. Where would the Fib retrace look to hold support, we might be looking at the 1225 area this time. so would the Cartel push it below that to retest 1200 again as 2019 gets going? I thought the 1200 area was a good target zone to see a bottom in 2018 (1200-1175 area) and that's what we got. Now the Resistance overhead (1260-1280-1300) will have its chance to show what the Cartel plans to do next. Resistance capping around 1270 would be normal. 1300 would be a more 'bullish' show of strength. Failing hard at 1260 would be more bearish bias suggesting a possible retest of 1200 again. What price does the Cartel want Spot Gold to print End of Year? Was last year around 1238 ? will they target the same again? so they can say Gold unchanged in 2018.
I still think the Cartel can move gold price at will wherever they like. they can take it down again from 1300 to 1200 again if they intended to do that. How does it fall from 1369 to 1167? It spent the whole of 2017 into 2018 looking strong and NOT falling too much, while miners looked weak and went downhill,gold stayed floating in the top zone ,and silver fell down. Then when the Cartel decided to pull the plug in Gold, down it goes and they just make it tumble down with no trouble at all. Its all rigged and controlled,including now. In my view. They gave us a chance to buy below 1200. That should have been good enough for gold bugs. 1170/1180/1185 was a decent bargain.
Silver on the other hand looks weak all year and hardly gets going from the bottom. Why is silver being So Suppressed this year?
could it break thru 15 in a rally? best looking positive targets are around 15.50-15.75 The Cartel sure has made Silver UNATTRACTIVE .
In the 2016 rally it surged from the mid 13's to 21. This time, it barely gets off the canvas and hasn't overcome 15 barrier yet. and silver miners have suffered in relation to it. Pathetic spot silver. Suppressed for some important reason
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