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One "Combination" To Unlock the "Safe" of Gold and Silver's Price Trends
Elliott Wave International's newest free "Gold & Silver eBook" reveals how wave analysts stayed a step ahead of precious metals' turns in 2002, 2010 and 2011
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By Nico Isaac
Thu, 21 Apr 2011 16:15:00 ET |
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When it comes right down to it, trading in precious metals is not for the faint of heart. Often times, it can feel like there's a ticking time bomb of volatility super-glued to the "safe" of gold and silver's price trends. If you don't crack the code fast enough, the opportunity to position for near-term turns blows up in your face.
The conventional approach to "cracking" this "code" doesn't always reduce the number of possible "combinations." For example, since the start of 2011 alone, fundamental analysis experts have went back-and-forth on these popular "combinations":
- Gold is the ultimate "safe haven" in times of crisis: "As economic uncertainty continues to prevail around the world... the appeal for gold and other precious metals is expected to continue to remain elevated, pushing up prices."
Vs.
- Safe-haven, safe schmaven: "Gold falls as Japan crisis slams the markets. On track for biggest one-day loss since July."
- Gold & oil move together: "Gold fell in tandem with crude as safe haven bids faded after a peace plan surfaced to end Libya's two-month old Civil War."
Vs.
- Gold moves opposite oil: "Gold joins commodities' rout on concerns that demand may slow because of high oil prices."
- Gold falls as the economy improves: "Gold slips on US jobs data, which showed unemployment rate saw biggest decline in more than a decade."
Vs.
- But you can't trust the data: "Gold turned positive as people write off the unemployment rate because a lot of it is seasonal retail hiring which is only temporary."
Club EWI's newest free 22-page "Gold & Silver eBook" attempts to offer a more objective alternative: Namely, show you examples of what Elliott wave analysts, without looking at "the fundamentals," were saying ahead of gold and silver's recent notable turns.
Says the eBook: "...the benefit of the Wave Principle is its ability to identify a structure that can be forecast, regardless of the market, the news, or the opinions of the 'experts.'" Over several chapters, you see examples of how Elliotticians used the rules and guidelines of wave analysis to identify trend changes in gold and silver in 2002, 2010 and 2011.
Tags: fundamental analysis, gold futures, silver futures