Using Gold Fields as proxy for Gold Stocks in general we can see clearly on this chart that the current price of $3.86 Dollars is very close to a cyclical bottom that comes around every 400 weeks or so (bottom to bottom) over the last 25 years. The pressure may well have been building inside a clear Diamond pattern that could soon explode to the upside. Potential...
There are many questions about the future of $GOLD - looking at a combination of classical and elliott wave it does seem likely that the inverse head and shoulders pattern targets a move to around $1500. Trying to match this with an elliott wave count the current primary wave B seems to target $1500 as well. This leaves a the big C wave to complet the bear phase...
Looking at the alternates for GOLD I wonder if this is not the best fit - taking into account a few simple technical aids like tramlines and Head & Shoulder patterns
