If you aren’t already in, this coming Monday or Tuesday (Nov. 5 – 6th) should represent an exceptional buying opportunity as gold moves into its final intermediate cycle bottom. Now that the 38% retracement has been breached I would look for a final exhaustion move to test the 50% level early next week as we move into the elections. Words: 284
So says Toby Connor (www.goldscents.blogspot.ca) in edited excerpts from the original article* posted under the title TIME TO BUY, BUY, BUY.
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!), has edited the article below for length and clarity – see Editor’s Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.
Connor goes on to say, in part:
“At that point gold sentiment should be completely washed out and gold will be set up for an explosive move to test the all-time highs by the end of the year or early January.
This is purely a profit taking event, nothing more. These situations happen like clock work about every 20-25 weeks, as you can see in the chart below. Gold is now very late in the timing band for that major cycle bottom.
I think the odds are very high we get a final bottom by mid week.”
* Source of original article: http://www.goldscents.blogspot.ca/2012/11/time-to-buy-buy-buy.html (SMT premium newsletter. $10 one week trial.)
Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
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