immediate target, page-74

Be careful traders, especially with all this bullish talk in the forums on POG & NCM's latest run.

Resumption of $USD rally probable from here IMO which could be the catalyst to send POG to $1000-$1100 (note: forecasting similar correction in % terms to 1976 correction). Once $US tops out Gold may be ready to resume the final stage of its bull run in earnest, which will be spectacular IMO.

The charts are also telling me that NCM is about resume it's downward trend & therefore a new bottom (somewhere between $7-$8 in the next month or two IMO) is looking more likely I think.

Some of NCM's indicators (eg. triple top in Slow stochastics, declining volume, MACD & RSI highest level since Feb) and completion of an ABC corrective pattern (see chart below) suggest to me that we have topped out here. Also the SP wasn't looking comfortable in the $13's IMO, based on yesterday's intraday chart action. However by reaching $13 mark it has at least back filled most of the gap created in early June.

The only caveat to my analysis being some unforseen event very near term which forces the $US down sharply & pushes Gold through $1350 resistance (unlikely IMO).

Good luck to all whatever your position.
Cheers

Disclosure: I held NCM until today. My opinions and analysis are mine only and in no way am I offering advice of any kind. DYOR