Saturday, February 06, 2016

Gold Bugs Index Resistance and Support


9 comments:

  1. Boy - Dust is taking a beating

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  2. Hello
    Martin Armstrong full wrong on second benchmark Gold...
    6 or 8 months ago, and too near time he said always ...second benchmark under 1000$...
    pathetic...

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  3. Hello
    Martin Armstrong full wrong on second benchmark Gold...
    6 or 8 months ago, and too near time he said always ...second benchmark under 1000$...
    pathetic...

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  4. Armstrong did warn a few weeks ago that because gold did not elect a bearish reversal number then a rally could unfold. Now he says "February was the Panic Cycle. It appears to be on target. The Monthly Bullish stands up at 1362. That is what we need to elect to suggest a change in trend becomes possible. Otherwise, be cautious. We are looking at all markets pushing to their extremes. This is the prelude to the chaos coming in 2017."

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  5. And ?
    i read his website, but he s ever wrong about the second benchmark !!!
    before Christmas he s waiting waiting under 1045....close year lol...
    And all other analysts he hates were right since november !
    dont you see manipulation or ego....to tell everytime 850$ and after at 1230...bullish ...?
    pathetic

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    Replies
    1. 1st its important to note that his computer models are forcasting based on daily, weekly, quarterly, yearly and whatever other timelines...thus trends, forcasts like weather will always keep changing.

      2nd - I beleive nothing has changed from what he said....we still will see a low in GOLD just that time is off...and we're still in 1st quarter.

      Please feel free to correct me.

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    2. Posts differents with door open
      ok for first quarter , speeder up..most important to test resistance and symetry ever possible for first quarter , but new low will be more fool like this up
      He say close february important 1209 1180 ...up or down
      He opens a door with stand above 1360 and 1411...
      if you look monthly many blue composite to may...
      i think COT tomorrow will be very important , because up very strong monday tuesday...and if commercials lod many shorts, blood is possible shortly...if positions ever neutral...it will be difficult

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  6. Laurent - where do you see GOLD proces next month?

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  7. As mr. A. has pointed out $1400 is the top line of resistance, it will have to get through there to prove the low is in. He also mentioned there will be a big low in 2017 and I have an Xau chart which agrees with that.

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