https://thegoldandoilguy.com/wp-content/uploads/2019/08/60.png 588 975 admin http://www.thegoldandoilguy.com/wp-content/uploads/2014/11/tgaoglogo.png admin2019-08-16 09:43:022019-08-16 09:43:02PART II – Silver, Transports, and Dow Jones Index At Targets – What Direct Next?
As you can probably imagine, we’ve received a ton of emails and questions about our recent predictions for precious metals and the August 19 breakdown date in the global markets. It seems everyone is reading our research posts and is curious about how to prepare for these moves and how we came up with these predictions months in advance. In this second part of our metals & Aug 19 update post, we’ll try to highlight our expectations going into the weekend prior to the Aug 19 breakdown date (Monday). In the first part of this research post, we highlighted what we believe is the imminent completion of the MID Leg 1 upside move in precious metals. Our research continues to suggest that we are still setting up a major LEG 1 upside move which should be considered a larger Elliot Wave structure. Within this Wave (Leg) 1 formation, a typical 5 wave structure is likely to continue forming. Currently, we are creating the Wave 3 of the total of 5 waves that will complete a finished upside Wave (Leg 1). If our analysis is correct, the peak that ends Wave 1 could be well above $2000 for Gold and well above $24 to $28 for Silver. Then, of course, we’ll set up for a corrective Wave #2 before another, BIGGER, upside wave #3 sets up in precious metals. Taking a look at this Weekly Silver chart, you may be able to see the waves as we see them. _ The upside price move from Dec 14, 2015, to July 4, 2016 sets up the initial upside Wave 1 leg. _ The low in November 2018 sets up the end of corrective wave B from the initial bottom on December 14, 2015. _ This setup suggests we are currently starting a Wave 3 upside move which is usually 1.5x larger (or more) than Wave 1. _ Keep in mind that we believe all of these “minor wave” formations are part of a much larger 5 wave structure that is setting up. As you look at the Fibonacci diagram, above, remember that within each of those waves (1 through 5), a typical complex price wave formation (1, 3, 5, or other more complex wave formation) will set up to complete the broader wave formation. Therefore, as you review the chart below, keep in mind that we believe everything originating from the bottom on December 14, 2015, till now is still part of the WAVE 1 formation on that Elliot Wave chart. We are just getting started with this move, folks.