Sunday, January 19, 2014

Time to Back up the Truck and Buy Gold!

It has now been 29 months since gold last reached a new high in its current bull market cycle. The downtrend lasted 22 months (top to bottom), having bottomed on June 28th 2013 at $1180. Confirmation of the bottom came on Dec 31 when gold briefly touched $1182, and left behind a double bottom.
There have been two other corrections that lasted 6 months or more, from top to bottom: In 2006 gold declined for 6 months, and in 2008 the pullback took 8 months to bottom.
Thus a 22 month down-cycle qualifies under the Gann definition as ‘time is up’.


- Source, The Silver Doctors, read more here:

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