What’s Next For Gold?
By GCRU Gold News on Wednesday, September 24 2014, 06:58 - Permalink
The Arden Sisters - the bottom line is this:
A ‘D’ low clearly took place in mid-2013. That was followed by an ‘A’ rise.
We now believe the decline in late December was a ‘B’ low. This was followed by a weak ‘C’ rise in March 2014. That is, the year started out strong but gold petered out.
A ‘D’ decline began after the March peak. And based on the latest weak price action, gold is signaling the ‘D’ decline is still underway.
This means we’ll likely see the December lows tested before this ‘D’ decline ends. If so, that would be okay. As you can see, it would still be part of the bottoming process that’s been in force since mid-2013.
But IF this ‘D’ decline clearly closes below this low at $1193, then it would be a very bearish sign.
So, the December lows are currently the key to the whole bottoming process.