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Oil, Gold and The Dollar

Oil and Gold up on the short term. The dollar down on all time frames.


Gold

I predict gold will go up until April 2. My guess is the $1240 area. But the important thing to remember is that Gold will top in the short term on April 2, regardless of price. Then I see a minor correction till April 14. Then another move up till about May 17. I have no idea where that will take us but my guess is in the $1300 range. I don't see a final bottom in gold till August 3 of this year.


Oil

Is there any hope for oil??? On the short term, YES! On the long term things look bleak. But on the short term, starting this Tuesday 3/24 oil be on fire. I expect WTI to go to 55-60. This up move will end at 1:50PM on April 7. That sure is audacious, predicting the top to the minute! Let's see. From there we will have a A-B-C correction. From 4/7 to 4/13 wave A down, 4/14 to 4/23 wave B up and wave C down from 4/24 to 5/3 down. At that point I would expect oil to be a 5%-7% lower from it's high on 4/7.

From May 4 I expect oil to retest it's high of April 7. It will do this by May 14. Until May 22 I don't think oil will go down. It may even go up a little. However after May 22 I expect oil to go down and eventually retest it's recent lows. The decline will accelerate starting June 4.


US Dollar

I think the top on March 16 is very significant. I am now bearish on all time frames.

 

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