Gold is Finally Ready to Launch

Tuesday, July 30, 2013
By Paul Martin

By Bob Loukas
GoldSeek.com
Tuesday, 30 July 2013

Summary

Gold appears to have wakened from what has been a very challenging 10 month decline. Ever since its failed attempt to test the all-time highs last September, it has literally been straight downhill for gold. But the signs of a trend change are everywhere, and this is evident technically in the charts and within the changing composition of the Cycles. Be warned we are due a $50 pullback this week towards a Daily Cycle Low. However beyond that, all indications point to a substantial rally about to take hold. According to my Cycles analysis, we’re looking at a 10 week gold rally back to the $1,520-50 region.

The Weekly Cycle

There are plenty of reasons to get excited here, as the early developments of this new Weekly Cycle point to a longer term trend change. Gold is now 4 good weeks into a Weekly Cycle (these Cycle average 20 weeks) which was confirmed once it broke above the declining trend-line and the Weekly Swing Low point (Above $1,301). The technical indicators show strength is building while the slow moving weekly oscillators are beginning to bullishly cross. There is no way of knowing for sure how far this Cycle will run, but the early indications are very encouraging as the Cycles on every time-frame are turning higher.

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter