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How To Buy Gold For $3 An Ounce

Gold Price No Bottom Yet

Commodities / Gold and Silver 2015 Sep 23, 2015 - 10:41 AM GMT

By: Ed_Carlson

Commodities

I'll begin this week's commentary with a follow up on last week's Hybrid Lindsay forecast for a high in equities. Last week's commentary gave the details of the forecast for a high in the Dow on September 11 or very early last week. Equities pushed that forecast to the limit with last week's closing high on Wednesday followed by a decline of over 350 points. Short bounces notwithstanding, it seems reasonable to assume Wednesday was the high I was looking for.


Gold gained $34.60/oz. last week to close at $1,138.10 just below the 89-dma. Cycles point to a high late this week followed by a pullback into the first week of October but an important high is also due in October.

Gold moves inversely to the Dollar and I still expect one more rally to a new high by DXY. A triangle forecasts a decline in gold to $1,000 and a 4yr cycle low is not due until the first half of 2016 keeping the long-term outlook bearish.

Inflation expectations (chart) are not supportive of higher gold prices.

5-Year Treasury Constant Maturity Rate

Get your copy of the September Lindsay Report at Seattle Technical Advisors.com.

Ed Carlson, author of George Lindsay and the Art of Technical Analysis, and his new book, George Lindsay's An Aid to Timing is an independent trader, consultant, and Chartered Market Technician (CMT) based in Seattle. Carlson manages the website Seattle Technical Advisors.com, where he publishes daily and weekly commentary. He spent twenty years as a stockbroker and holds an M.B.A. from Wichita State University.

© 2015 Copyright Ed Carlson - All Rights Reserved

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.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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