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Gold: New Highs Or A Lows Retest?

captainewave
email: admin@captainewave.com
website: www.captainewave.com

Nov 24, 2024

US Dollar: 



Analysis:

All of wave ^c^ is complete at the 114.75 high and we are falling in wave ^d^.
Within wave ^d^, we have now adopted our alternate count to preferred…
Which is suggesting that all of wave a ended at 100.42 and we are moving higher in that tail end of wave b.
Within wave b, we completed wave -a- at 107.05 and wave -b- at 99.86.

We are now moving higher in wave -c-, which we believe is getting close to completion!

After wave -c- and wave b end we expect another drop in wave c to complete all of wave ^d^.

We plan to add to our short positions very soon!

Trading Recommendation: Go short, risking to 109.00.                                                                                     
Active Positions: Short risking to 109.00!            


Silver: 



Analysis:

We are now rallying in wave iii, which has a series of very bullish nested waves, as shown in our weekly silver chart.

Within these nested waves we have updated our count to suggest that all of wave *i*  of of -iii- of (iii) of iii ended at 32.75 and now all of wave *ii* at the 26.50 low.

We should now be rallying in wave *iii*, which has an initial projected endpoint of:
*​iii* = 1.618*i* = 45.75!
   
Within wave *iii*, we have updated our internal wave count to suggest that wave $i$ ended at 35.08, and we are now falling in wave $ii$, which has retracement levels as shown in our “Daily Morning Post” for subscribers.

Within wave $ii$ we likely completed all or most of wave !a! at the 29.75 low, but it could also be possible that all of wave $ii$ is complete at that low also.

In any event, silver is due for an exciting rally in wave !b! or wave $iii$!

We have updated our projected endpoint for wave -iii- to be:
 
-iii- = 4.236-i- =  48.34!

Longer term our initial projection for the end of wave 3 is:
                                                             
3 = 1.618(1) = 86.50   
 
In the very long term, we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993. We are now working on wave V and within wave V we have the following count;
 
1 = 49.82;
2 = 11.64;
3 = First projection is 86.50.

Trading Recommendation: Go long, with puts a stop! 
Active Positions: Long with puts as our stop!
  
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Gold:



Analysis:

Within wave !iii!, we completed wave @i@ at 2570.40, wave @ii@ at 2502.70, wave @iii@ at 2685.40, and wave @iv@ at 2604.20. We look to have completed wave @v@ and !iii! at the 2790.10 high. We have been falling in wave !iv! which has an updated retracement level of:

50% = 2577.30.

We have reached our 50% retracement level, and possible completion of wave !iv! and the start of another rally in wave !v!.
We think the development of wave !iv! should take longer, but based on price targets, it does not need to.

Wave !iv! could still become a bullish triangle formation. 



After wave @b@ ends we expect another drop in wave @c@ to at reach at least the 2536.90 low to complete all of wave !iv!.

Our projected target for the end of wave -iii- is: 
-iii- = 6.25-i- = 3199.90! 
 
We do expect higher prices as wave !iii! continues to develop.
After wave !iii! ends we expect a wave !iv! correction that retraces between 23.6 to 38.2% of the entire wave !iii! rally!
In “layman” terms: We are projecting a move to $3199 before a major correction sets in, but a retest of the $2536 area lows is possible before reaching that high.
Very long term, we expect a final and truly epic “E” wave. We are projecting a public buying mania much bigger than the mania of the 1970s, likely related to out-of-control US government debt finally reaching a point of… default.
Significant street violence is possible as this event occurs. The ramifications of the default are likely to include a US stock market down 90% from its highs and a domino effect for the entire Western world.
We have yet to establish final targets for Wave E, but it’s likely to dwarf our Wave C targets, which are as high as $4200+!

Trading Recommendation: Go long gold. Use puts as stops.  

Active Positions: Long gold futures in size from $1080, with puts as our stops!           
                                                                                                      
Free Offer For 321Gold Readers: Please send me an Email to admin@captainewave.com and I’ll send you our free “CDNX: The Big Move Begins!” report. We highlight both short and long term projections, and include a bonus report on three hot CDNX/US Mkt stocks!

Thank-you!

Captain Ewave & Crew

email: admin@captainewave.com
website: www.captainewave.com

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