- IF price moves to 2745-2760 area, 2955 top makes this run from 2540 total 415 points
- which means A COMPLETE TOP for this rally from 2540 is 2955+415+a bit more, or 3370+ (hence I picked 3380)
- of course this range is 3380-3415, that's just spitting hairs
- so 3380-2540 is 840, which completes the second leg of 800+
- the first one is 1985-2790, or 805
- this means that the rally from 1985, or actually from 1975 marker, completes at 3380
- this 3380 also happens to be the $875, Jan 1980 high, which is the adjusted-for-inflation-all-time-high
- that is to say, adjusted for inflation, gold is still lower than it was in 01-20-1980
- there is no legit fundamental reason (says the people that speak about these things) for gold to blow through this
- this total price structure from year 2016 says the 25000 rally has four major tops
- if 3380 is the first top, it fits very well, for example: 3400-6400-12500-25000
- but that's not a great reason
- furthermore, the sideways to up move stalls the 10-20-40-year mean average at 21xx or 22xx
- which in theory SHOULD HIT before the next rally (to 6400)
- if price moves for 3970, it would destroy this mean average structure which causes the violent checkdown
- it would imply that the floor starts at 2580 and higher
- not to mention, we don't even know if 4000 will cap that blow off or not
- and on and on and on..
- but what the charts say???