Gold Gann Analysis

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GLD calculations begin at the $41.02 low.

GLD expands and retracts by specific degrees. After the first target of 360 is met
the next target is 270 degrees higher. The third target is 180 degrees higher than the
second degree target. The pattern contracts by 90 degrees less than the previous expansion.

360 up (70.63)

630 Up (98.10)

810 UP (118.91)

If this pattern proves to be accurate then we can expect a long and time consuming correction (or crash) after price reaches 118.91. Another high should come in at 90 degrees higher than 810, after the downside target is reached. Upside target = 900 UP (130.06)

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Downside price objectives display similar pattern characteristics.

1) 72.26 HIGH (WEEKLY) = 180 Down (56.25)

2) 100.44 HIGH (WEEKLY) = 270 Down (72.62)

3) 119.54 HIGH (WEEKLY) = 360 Down (79.80)

This pattern displays an expansion of 90 degrees per downside correction. The projected downside target is 79.80.