Gold Wave-Cycle

Precious Metals Timing (14 March 2007)

Gold completed its Major Wave One at $728 in May 2006.
Gold needs one more leg down in order to complete this correction.
A 50% correction of the entire move up would bottom at $492.
However, if the [C] leg equals the [A] leg, the bottom may be $526.

The [A] leg down was $166.50
The [B] leg high was $692.50
$692.50 minus $166.50 equals $526

The [A] leg down bottomed at $563.50
The bottom should appear somewhere between $492 and $526.
When the bottom is reached, that will complete Major Wave Two.

Silver is in a position similar to gold.
The [A] leg gave back 50% of the entire bull move.
The [C] leg will most likely bottom lower than the [A] leg.
There is a good probability that silver will bottom in $9.11

If wave [C] equals wave [A], $9.11 will be the target.
The high was $15.20. The wave [A] low was $9.60
That represents a $5.60 decline. The wave [B] high was $14.71
$14.71 minus $5.60 equals the bottom of $9.11


HUI correction will NOT go lower than the 270 low.