Gold & Silver: We Are At Worst Several Days From The Bottom!

November 4, 2014

This is dedicated to all you faithful precious metals Warriors!

This long, disheartening, dismaying, giant correction is just about over. There have been four bull moves after each occasion that the price of gold touched the quarterly rising trend-line. Each bull move was greater than the previous bull move. The last bull move was $1,242.70. The next bull move should prove to be much greater than $1,242.70. 

GOLD QUARTERLY

gold comex quarterly

The rise in silver once the final breakout takes place should take silver to new all- time highs. The rise has the potential to be violent and huge!

SILVER MONTHLY

silver monthly

The HUI is in the process of completing a huge irregular correction.

Irregular Corrections

“In this type of correction, Wave B makes a new high. The final Wave C may drop to the beginning of Wave A or below it.”

The wave count for the HUI’s irregular correction is clearly a 3 – 3 - 5. That is exactly what it should be as the illustration shows. The coming rise will be to a new all-time high. However, there may be a slight new low below the 150.27 level before the bottom is in. 

HUI QUARTERLY

HUI quarterly

As the precious metals bull market resumes, leg E of major Wave IV in the DJIA and the S&P500 will begin a collapse to horrendous lows.  

gold silver dow jones index
gold silver s&p500 index

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Disclaimer: The contents of this letter represent the opinions of Ronald L. Rosen.  Nothing contained herein is intended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Ronald L. Rosen is not a registered investment advisor. Information and analysis above are derived from sources and using methods believed to be reliable, but Ronald L. Rosen cannot accept responsibility for any trading losses you may incur as a result of your reliance on this analysis and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions.
Minting of gold in the U.S. stopped in 1933, during the Great Depression.