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Gold Report 29 Nov 2009

Gold Report 29 Nov 2009

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Published by AndysTechnicals
Gold, Technical Analysis
Gold, Technical Analysis

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Categories:Types, Business/Law
Published by: AndysTechnicals on Nov 30, 2009
Copyright:Attribution Non-commercial

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11/29/2009

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Andy’s Technical Commentary__________________________________________________________________________________________________ 
A
873
~ 38 months
101
Gold begins to freely tradein U.S. in 1976 
~234 months
253
BC
Gold Monthly (Log Scale)
21871502One high probability timing target for this C-Wavewould be December 2010 for (A+B)/2 = C-Waveduration, or 136 months.
Because Gold has decisively taken out the the A=C target of $1,025, thismodel gains in viability. The targets are either $1,502 for a 162% of A=C,or $2,187 for an A=C in % terms. The higher target would coincide with amulti-decade long trend channel (log scale).
Channel connected through monthy closes.
REPRINT 11/15/09
 
 
CompletedMOVE
1034681
- A -
Gold (Daily) - An “Irregular” Correction
( A )
Andy’s Technical Commentary__________________________________________________________________________________________________ 
“c”“a”“b”
- B -
( C )“5”“d”“e”( B )
This is not really the preferred model, but it remains the most realistic case for Gold bears. The 138.2% (linear) is $1,169 and that level is now in jeopardy. Togive bears a little more rope to work with, the 138.2% of -A- on a log scale is$1,212/oz. It’s “possible,” though not probable, for a B-Wave to be 168.2% of anA-Wave. In this case, that would be $1,275 which would be little consolation for anyone still holding shorts. The (A)=(C) would also be around $1,275.
“1”“2”“3”“4”
 
 
Andy’s Technical Commentary__________________________________________________________________________________________________ 
Gold (Daily) with RSI 
Whether or not the move out of the triangle is the final Wave <V> or the (C) Wave of an“Irregular” -B- Wave, the important thing is to count out a complete “five” wave higher outof the triangle. This is my preferred model for two important reasons. The first is theextremely high RSI reading. This kind of high reading is something normally associatedwith a “third of a Third” wave. Any new highs will set progressively lower highs on theRSI as the market ‘exhausts’ itself into the wave-5 peaks. The second reason why Ihave to go with this as the preferred model is highlighted on the next page
< IV > or ( B )
“1”“2”“3”5“4”“5”1234
87.85

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