The short-term objectives (4-5 Weeks) in DUST and JDST are making headway. However, geopolitical instability or a Trump tweet could change things instantly. Nevertheless, the action in miners today bolsters our analysis.
DUST prices could reach $36.00+ in May, and I presented the potential target area for JDST. These trades are countertrend and therefore risky. Several members already hold positions. However, the real investment opportunity will arrive at the next 6-month low, in my opinion.
The extended rally stretched the 6-month cycle long enough to become right translated. Gold prices should drop into May but prevail above the December 2016 low ($1,124). I expect an excellent long-term buying opportunity in May. A drop into a secondary 8-year cycle low is no longer feasible.
-GOLD WEEKLY- Our Primary scenario calls for a low in May or June. Once grounded, prices should enter a strong wave 3 advance in the second-half of 2017.
The color gauges will remain neutral until gold enters the buy zone during the next 6-month cycle low.
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