, Gold and Silver News: Time to Back up the Truck and Buy Gold!

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: