Gold Rally & T-Bond Tap Out

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Gold Rally & T-Bond Tap Out

Public participation in gold is near the lowest levels of the bull market. This is a good sign that higher prices are coming.   My upside targets are $1850, $2350, and $2750.  At $2750, I’m projecting that the public will become eager to own gold again, and the price will begin the next major consolidation.

There is a big positive divergence on the gold chart. Once gold trades above $1800 for 3 consecutive days, gold stocks should have their technical shackles removed.  At that point, I will be looking for an enormous 100% rally in most gold stocks, from the double bottom that was established in the $39 area on the GDX chart.

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