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Last Chance For A 2015 Bottom
news.goldseek.com / By Avi Gilburt / 16 December 2015
First published Sat Dec 12 for members: As I have said on numerous occasions, there are several patterns that I find hard to rely upon in any chart, and one of those is a truncated bottom. This is the only way in which one would be able to consider that the metals have completed their 4+ year correction. Therefore, I still have no solid evidence that a long term bottom has yet been struck, especially since our ideal targets set years ago have still not been struck, even though our minimum targets have. Furthermore, the action seen off the recent lows this past week is not strongly suggestive that the final bottom has been struck.
Along those lines, the highs struck this past week may be counted as the top of corrective waves in the final decline to lower lows, but due to Friday’s action, I am even questioning that potential. From a micro-count perspective, if the metals and miners are not lower on Monday, and immediately on their way to breaking the lows they made on Friday, we are likely heading up much higher in a larger corrective manner. This means any certain bottom call will not be made until 2016. In fact, this has happened for the last 3 years, where, each time, the metals have had the opportunity to complete this long term correction going into the end of the year, and, each time, they have chosen to prolong it by avoiding a final decline to complete their immediate bottoming pattern. It is almost like the metals have been teasing us.
The post Last Chance For A 2015 Bottom appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/12/16/last-chance-for-a-2015-bottom/
