quinta-feira, 28 de fevereiro de 2008

A LOT OF DOWNSIDE IN GOLD

Everybody knows that precious metal has started a bull market in 2001. I have been predicting a pause is this bull market since last year and, until now, my prediction has failed. One lesson has been learned: it is very dificult to predict when a bull market will pause/stop: it is much more easier catch the wave.

Dax Speculator will catch the next wave (the impulsive 3rd wave) but, for now, it is time to be very cautious about Gold: a 50% correction is very likely because a correction is always proportional to the advance, it is an action-reaction event! If Gold starts its correction at the 980 level, a 50% correction will bring it back to 620.