Our current consensus is, I believe, that it will ultimately run to about 285 to 308, but before that it will climb a bit. I am thinking it has started that climb now, others think it might be a bit lower, say 308, before it starts the climb. We were thinking that little climb will go to the 340's - At least I am still thinking that, but I am not sure whether the others are still looking at that number of a bit lower, I think @acwbagnall might be thinking that dead cat bounce might be closer to 330, but that assumes a lower start point (308) than this. Previously he was looking at 330 as the start point and thus around 344 as the end point. Then it should resume the fall to the aforementioned target of 285-308. Once we know where the turn form the dead cat bounce is we will be able to tighten the end target. There is a chance it could go lower, but ORE's pattern would suggest 397 for GXY is about the limit, so lower is currently seen as unlikely. It is all explained in detail in the various posts from myself, @acwbagnall , @beisha , @dolphinwrestler , @yanlin and a couple of others. I provide a daily update in the charts thread each day of our current thinking and targets, where there is a difference in view I attempt to capture that, if it is consistent with the current observed pattern. When any of us talk about the "wave C" target we are discussing the low point of this retrace. It is probably worth noting that none of us are stressed about it and I don't believe any of us have offloaded anything but our trading stocks portions.
GXY Price at posting:
$3.26 Sentiment: Buy Disclosure: Held
