My own way of looking at gold shows its exceptional bullish features for the next two months. What I have done here is identify an obvious rising channel and then superimposed that on a Gartley ABCD calculation. The Gartley works by calculating the A-B leg as being equal to the C-D leg and when we view it in that formation the strength of this move is clear.

Note for example how the line identified as the 75% line is precisely at the same level as the prior peak from March 2022. I love how that looks. Even better though is that the implication is for gold to soar over the top and reach a height of 2169.60 (so its very, very close to your 2200 dollar gold call, Fully!). I am in agreement with you obviously.

This chart has a target date of June 5th 2023 (two months hence) based on the merging of the channel with the Gartley numbers “D” target line. Its my own unique way of estimating price moves and direction. It works quite well sometimes but there is some obvious wriggle room in how the chart gets drawn. So its not exactly science but it often gets us closer to a good understanding of the chart dynamics. Sometimes I need to squint to make these work but in todays example it looks pretty solid.

In case its not crystal clear to the reader, what I am actually doing here is estimating “the time to the destination price”.  So I am interested in price of course but even more importantly, I want a better idea of WHEN price will reach its target. Just a word to the wise, Gartleys are notorious about reversing right at the 75% line.

I suspect this has something to do with the point at which the market finally catches on that a bull trade is happening and buying reaches a point whereby selling is actually a better option. So take care not to buy the 75% line unless it is decisively breached to the upside. Instead, let it pullback as it will most likely do and then be prepared to buy the reflexive low.

Odds now favour the Goldbugs.