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Gold Price Targets for 2015

Commodities / Gold and Silver 2015 Jan 01, 2015 - 12:10 PM GMT

By: Rambus_Chartology

Commodities

Below is a gold chart I worked on this weekend. It has a lot of information on it to digest. First thing to note is the top rail of the black falling wedge. As you can see the top rail comes in around the 1215 to 1220 area. Not that it means anything but the two black rectangles are exactly the same size that measures time and price for the rectangle on top and our current triangle below. If our current triangle plays out as a halfway pattern, I have it measured using the BO to BO and the impulse method with the price objectives at the bottom of the chart. I think we could see a small halfway pattern form during the second impulse move down before the actual price targets are hit. The very bottom price objective is the 2008 crash low at 685 which looks like it would hit the bottom rail in October. Something to watch when the bottom rail gives way.


I have followed these moving averages on gold for many years and consider these to be the most important ones.

Gold's 18 month daily line chart showing the triangle consolidation pattern.

All the best in 2015

Gary (for Rambus Chartology)

http://rambus1.com

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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