I believe that we could see a possibly opportunity in the next week or so in the Gold Market.. ideally to consider to buy it.. if we see it decline in the next week..
If you look on a monthly chart..
Gold bottomed in Decemeber 2016.. at around the 1046 price level. (In which if I recall I did say that I thought that would be a main low for Gold for a while (and may still prove to be)...)
If you look 30 months into the past from that date... to around June 2013.
you will see how there was a low pivot that formed after Gold declined from its September 2011 highs.
from then... Gold made 3 or 4 further swing highs and low more intermediate main pivots that gradually declined further down to the December 2016 low...
Since the Dec 2016 low, the market has rallied upto the 1375 level and been back down to make another main but higher swing low around 1122 in December 2016.
At the moment Gold is at around the 1300 level
BUT I think if it declines back down again to around the 1200 to 1150 level in the next 2 to 4 weeks... that it may have a reversal back up to the 1800 to 1900 level... or higher in the next 6 to 12 months..
The main reason at the moment that I consider this is due to what I think could be a related symetry from what I think we could see if we see a low form in the chart.. that would then be 30 months into the future from the December 2016 low.
I had a few main dates for the Dow Jones... that sometimes also effect Gold... that were May 29th/30 and June 14th/18th/21st or around July 5th.
I would not count out quite a sharp large move into Oct to Dec 2018 or into Jan to March 2019.
(http://www.kitco.com/LFgif/au3650nyb.gif)
If we see Gold rally into new yearly highs this next 2 to 4 weeks.... It do the opposite and decline quite severe..
This shows that Dow Jones for the past year.
I cannot select a more detailed last 6 month time framed chart from January to present unless I agree to the websites cookie policy.. which I dont like doing..
seems mnay websites now since GDPR want you to agree to cookies to be able to view more detail on their websites..which really they should only do if you opt for receiving info from them.
On the Dow I had May 29th/30th and June 14th to 18th or 21st as Important Pivot dates...
so far there was Low pivot made on May 29th...(which was the last main low pivot since the May 3rd one. ) That I want to see if that holds.
If we see another Low form between june 14th to 21st.. I think we will see the Stock Markets also have a further strong rally..which may be also in ref to the recent USA / North Korea agreement..
If that time frame comes in as another high pivot maybe around the 25500 to 26000 level..
Then its very hard to suggest which way the markets may go as id have tow main dates.. one as a low another as a high... and im not sure which way to suugest that the market may go for the rest of the year...
I can only offer other important dates when they arrive...and see if they react enough to make a break out..
but the range could be too wide to feel more content...to make a buy or sell decision...
but if say two expected low pivots form.... I think a buy signal would favor...or vice versa if we had two high pivots form..
(http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosettings=1&symb=djia&uf=0&type=2&size=2&sid=1643&style=320&freq=1&entitlementtoken=0c33378313484ba9b46b8e24ded87dd6&time=8&rand=1295498525&compidx=&ma=0&maval=9&lf=1&lf2=0&lf3=0&height=335&width=579&mocktick=1)
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=djia