Eyes on Gold

[wheatking16]

Gold closed the month and year at the 2.168 Fibonacci Extension, which is consistent with Elliott Wave Theory.

This confluence, along with another Wall Street indicator, suggests this is a completed extended Third Wave, or maybe a Fifth. (such is Elliott Wave Theory)

If the Third Wave is complete, then we anticipate a Corrective Fourth Wave, maybe down to 2100.

Probably not the time to chase until there's a new ATH.

Remember, Elliott Wave Theory is a theory, not a law, and I am only aware of a few who can trade off it effectively.

Gold bugs won't agree.

Yes, Elliott Wave has its criticisms.

All of which are justified.

[shtferbrains]

Can you chart back to when canola was at record highs?
Or overlay that Canola chart?
Seems metals are near there, but there have been lots of reasons to take profits all the way to where it is.
Gold bulls will be bulls.
To the moon?

Lots of money on the way down?
Often a lot quicker?
Bears always win?

If the $2100 gold you suggest is the future this ETF will be ????
A 4 digit value ???

[wheatking16]

Can you chart back to when canola was at record highs?
Or overlay that Canola chart?
Seems metals are near there, but there have been lots of reasons to take profits all the way to where it is.
Gold bulls will be bulls.
To the moon?

Lots of money on the way down?
Often a lot quicker?
Bears always win?

Gold and Canola chart.

[wheatking16]

It has been a Sell Canola - Buy Gold market since May 2022.

[furrowtickler]

Ever since we have not had a decent canola crop lol

[Old Cowzilla]

Would be nice if some of those gold guys took a profit and bought some canola for a while.

[fjlip]

Black gold or coal?

[agstar77]

Anyone firmed up their gold acres for spring?

[wheatking16]

Anyone firmed up their gold acres for spring?

Sideband with quartz and copper.