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Author: MDCigan Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 41313  
Subject: Re: Gold - Intermediate-term bottom? Date: 2/6/2013 1:58 PM
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Too early to call it, but looking like a good call so far.

Anyways, pretty good sized symmetrical triangle has formed with the uptrend line off the May low and connecting all the subsequent lows and the downtrend line off the fall 1800 top and all the subsequent highs. Resolution should take place in the next week or two. If I had to guess, I'd call for an upside breakout, but either way from a trading perspective, you go long the upside breakout, or short the downside breakout. Upside targets would be 1750 and 1800, downside targets would be 1640 or perhaps even a full retest of 1525-1535.

In terms of the 1.5 year 1525-1535 to 1800 range, Louise Yamada's lines are in my head. "The wider the base, the higher in space", and the "longer the top, the steeper the drop". Whichever way it finally breaks should be good for an an absolutely massive move in that direction.
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