{"id":465,"date":"2010-12-23T13:52:50","date_gmt":"2010-12-23T17:52:50","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=465"},"modified":"2018-06-10T10:58:19","modified_gmt":"2018-06-10T10:58:19","slug":"why-gold-is-about-to-power-higher-to-complete-a-big-rally","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/why-gold-is-about-to-power-higher-to-complete-a-big-rally\/","title":{"rendered":"Why Gold is About To Power Higher to Complete a Big Rally"},"content":{"rendered":"

Why Gold is About To Power Higher to Complete a Big Rally<\/span><\/strong>
\nDavid Banister- www.MarketTrendForecast.com<\/a>
\nThe gold bull has been moving in very reliable Elliott Wave and Fibonacci patterns for many years now, but once in awhile\u00a0 the waters get a little murky for sure.\u00a0 Recently we have seen a fair amount of volatility near year end as position squaring and year end machinations take hold.\u00a0 With that said, it does appear that Gold should be poised to power higher near term, and I\u2019m looking for a completion to a 5 wave rally that began from about $1,040 per ounce in February of this year.
\nOver the past several weeks, I see a clear Fibonacci trading day relationship on Gold\u2019s swings from pivot highs to pivot lows. 8 days of correction, 13 days of rally, 8 days of correction is the recent pattern over the past 5 weeks or so. Below is a chart outlining these crowd behavioral based patterns that I rely on for both my trading service and market forecasting services.\u00a0 You can see the clear relationships, confirmed by the stochastics indicators at the tops and bottoms as well:
\n\"\"<\/a>\u00a0
\nBased on the recent patterns, I believe we completed a minor wave 3 from the February bottom at $1424 a little over 5 weeks ago, and had a shallow period of 8 days to complete a wave 4 to $1,330.\u00a0 Now, we are in the final 5th<\/sup> wave up pattern to complete an entire 5 wave move from February of 2010.\u00a0 In the near term then, I\u2019m expecting a pretty strong rally from this recent $1365 area to at least $1,480 per ounce, and eventually a good shot at completing the structure at $1525 ranges.\u00a0 Short term, we should begin a wave 3 up here, followed by a 4th<\/sup> wave correction, and then a final and terminal 5th<\/sup> wave.\u00a0 Below is a multi- month weekly chart view of where I see us heading and where we\u2019ve been.
\n\"\"<\/a>\u00a0
\nRecently, I completed a brief E-book on Behavioral Based investing and trading, and it is free for new subscribers to TMTF or ATP services. If you\u2019d like to stay updated on a more frequent basis, you can subscriber or otherwise sign up for weekly reports at www.MarketTrendForecast.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Why Gold is About To Power Higher to Complete a Big Rally David Banister- www.MarketTrendForecast.com The gold bull has been moving in very reliable Elliott Wave and Fibonacci patterns for many years now, but once in awhile\u00a0 the waters get a little murky for sure.\u00a0 Recently we have seen a fair amount of volatility nearMore<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"\nWhy Gold is About To Power Higher to Complete a Big Rally<\/title>\n<meta name=\"description\" content=\"Why Gold is About To Power Higher to Complete a Big Rally\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themorganreport.com\/blog\/why-gold-is-about-to-power-higher-to-complete-a-big-rally\/\" 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