You have requested an update on Gold Commodity Forecast that how do I see it unfolding.
Any business, including trading is successful, when we know what is highest probability of a certain outcome based upon sequence of current events. Therefore, based upon the analysis, I think the leg down is not complete. As you know, much of my (posted) analyses include certain angular trend-lines, because, the trend-line square the price and time both cycles at any given point. When I drew these lines on the graphs, pictured herein above, I saw another pattern developing. This is called bearish “flag or pennant”. Upon the successful completion of this pattern, the price target is usually the length of the pole. That gives us the down target of GLD price in the range of $104.72, next $102.97-103.48, and finally $98.67-99.48. Ironically, these price targets, fall within the range of my previously indicated price ranges arrived by calculation of price and time cycles squaring methods. Thanks to The Almighty and All Knower!!
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