double bottomz

OK we are off 90%… may as well hold…what could go wrong ?

DOUBLE BOTTOMZ INN

………………………..

Oh No BoPo

Gold’s next stop still $2000 now that Gold broke through $1240 on September 11, 2014?

In response to many recent emails and comments, let’s look at Gold’s last 3 cycle lows to possibly get some insight:
1.In June 2013 Gold made THE Cycle Bottom at $1178, cycle analysis called this bottom within 2-hour, and at that time internet Gold bashers were all screaming $1000 Gold next; it never came as Gold’s next cycle was up, not down, causing Gold to rebounded as forecast making a $1434 top in August 2013.
2.In December 2013 Gold made a higher degree low at $1181 and again the Gold bashers were screaming $1000 Gold next; it never came as Gold’s next cycle was up, not down, causing Gold to rebounded as forecast making a $1392 high in March 2014.
3.In June 2014 Gold again made another higher degree low at $1240 and once again the Gold bashers were hard at work screaming $1000 Gold next; it never came as Gold’s next cycle was up, not down, causing Gold to rebounded as forecast making a $1346 high in July 2014.
4.Now on September 12, 2014 Gold dropped below the June 2014 low at $1240 and again the Gold bashers are, as expected, still screaming $1000 Gold; and again it will never come!

In a May 14, 2014 New York Kitco Interview and forecast (click here to view), cycle analysis indicated Gold was expected to rise in May/June and make a Top in June, then drop down in price making a Final Summer Low and in conclusion Spike and reach $2000 before year end. The May 2014 Interview stated a ‘Final Summer Low’ would be a final entry point.

Summer is NOT officially over and a break of $1240 changes nothing in a cycle! Cycle analysis gives price direction, NOT exact price. Price is derived by calculations using a Fibonacci scale and a break of $1240 Gold is nothing but a break of a Fibonacci price support line NOT Gold’s 21-year cycle. So stating… ‘The historic Gold cycle dictates an end of summer 2014 low MUST remain ABOVE the June 2014 low at $1240’ was an overzealous statement and mistake on my end and nothing more. A Fibonacci support line break does NOT constitute breaking Gold’s 21-year cycle!

So, is Gold’s next stop still $2000? Yes. Will Gold ever see the $1180 lows? Absolutely NOT!