Target Hit Dead-On; Bulls Still Aiming higher | $DUST $GOLDFriends,
Last September 12th, a series of bullish targets were defined as follows:
1 - TG-1 = 32.97 - 12 SEP 2014
2 - TG-2 = 37.76 - 12 SEP 2014
3 - TG-Hi = 41.23 - 12 SEP 2014
and
4 - TG-x = 52.76 - 12 SEP 2014.
(Source: See "$Gold Could Still Brush $Dust Off Bulls, Flat Out | #elliottwave - Link: ).
At the time, the market was heavily favoring bears, but the predictive/forecasting model suggested a potential rallying to these levels.
As of today (08 OCT 2014), TG-1 got hit dead-on and price rolled down to carve a potential higher-lo (although there is no clear indication that it is done retracing).
Although the model did suggest a refinement in the bullish target (TG-Hi = 51.32), I will keep the chart as is, for the sake of simplicity and honesty (I want the targets to reflect the original predictive analysis and forecasting).
If anything, this loftier TG-Hi suggests that gold brushed itself off a bearish floor, and shows technical clues of further bullish intent.
The original chart is played out on a daily level, so feel free to request updates and opinions. I will do my best to respond whenever feasible.
Thank you,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
-----------------
Twitter: @4xForecaster
-----------------
