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The April 12 2013 drop in gold prices

PostPosted: 18 Apr 2013, 07:32
by acepsut
The recent drop in gold prices of April, 12 has been a shock for many investors and for financial press, that immediately talks of a manipulation of gold market with the complicity of CFTC.

But, despite all these news, what a cycle analysis would have tell us about a gold market forecast?

Let's start our analysis from March, 23 (20 days before April, 12) and let's look what a serious cycle analysis forecast would reveal, up to 50 days ahead.

Data is XAUUSD from http://www.dukascopy.com, daily data with interpolated weekend days.

The predicted path is self-explanatory: after a first bottom, price should try to bouce

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After 5 days, gold prices moves down nicely to the first predicted bottom: we are now awaiting for a bounce before a strong downmove.

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Prices moves very little up - sideway to the top time zone and now a bear move should happen

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Exactly as predicted, gold plummet down to the first predicted bottom.

Bottom is expected for April 16 about.

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It is very interesting to note how powerful the cycle analysis tool is, despite all financial news and/or any manipulation theories

Update: the picture below is taken from Yahoo finance and show April 16 XAUUSD bottom, exactly as predicted more than 20 days ago.

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http://advancedmarketforecast.blogspot. ... rices.html