Wherever gold bottoms, I think the easy money has been made for the next year or so.\u00a0 Even if gold does make a significantly higher high (let’s say 2500+) in the next 4-5 months, the trip there is not going to be a straight rocket shot and it won’t be smooth IMO.\u00a0 The same goes for the miners.<\/p>\n
At some point, gold will have an extended consolidation period (where it won’t make a higher high) for a year or more.<\/p>\n
All that being said, if gold does go on to hit $2500+ within the next 4-5 months, I think some of the silver miners will double off of their upcoming lows.<\/p>\n
As far as the question of when will gold hit its bottom, I think it’s possible gold could hit its low next week.\u00a0 Again, I’m looking for a low below $1874, and it is very likely that gold will at least tag its 20 WMA which is around $1850.\u00a0 For cyclists, the conventional way to get long at an ICL is to wait for a weekly swing low.<\/p>\n
As for the miners, I think if GDX tags its 100 dma, that will be a relatively low risk entry point, but to minimize some risk it would be best to wait for a weekly swing low in gold.<\/p>\n
[Today, gold has come withing $5 of breaking its August low at $1874 and silver within 8 cents.\u00a0 So with respect to at least one parameter for an ICL, we are almost there already.]<\/p>\n","protected":false},"excerpt":{"rendered":"
Wherever gold bottoms, I think the easy money has been made for the next year or so.\u00a0 Even if gold does make a significantly higher high (let’s say 2500+) in the next 4-5 months, the trip there is not going … Continue reading