Mover Mike

Here's a followup to my Gold and Silver call on Feb. 24th. Take a look at the April Gold contract at TFC Commodity Charts. It shows a gap on 10/27/2005 and a close at 483.3. That gap coincided with a peak and a correction to 463.5 on 11/04/2005. After the gap was closed gold ran to 548.0 on 12/12/2005, a gain from the gap of $65.70.

The next gap was on 12/13/2005 with a close at 528.4. There was a correction to 497.0 on 12/21/2005. After the gap was closed gold ran to 579.5 on 02/02/2006, a gain from the gap of $51.10.

Now, our third gap took place on 02/06/2006 with a close at 574.3. IMO, the bottom was at 539.0 on 02/16/2006. As I indicated in my previous post, I believe we have broken out of a small head and shoulders bottom. If this move acts like the previous two our next high should be between 625.40 and 640.00, sometime in the first two weeks of April.

BTW, there are no gurus in the world, there are no guarantees. We all must think for ourselves. I just want to see if I can get it more right than the "bubbleheads" on TV, who get paid more than I do and are not accountable for their predictions.

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Gold economics Mover Mike

Update: Gold to touch $ 610 in near future: BBA

Though it is maintaining a constant upward swing, precious metal gold is still underperforming and is likely to touch dollar 610 per ounce in the near future, says an industry expert.