The prospects for gold and the other precious metals are and keep being extremely gloomy in the short as well as in the mid- and long-term.

The firmer/longer gold and silver struggle against new bear market lows and the final sell-off wave accompanied by large volumes trying to counterattack again and again for offsetting their current bear market lows from the summer 2015 (for gold it was made in July, for silver in August), the worse will become the ending for all the precious-metal bulls that still exist.

…the lower will it go till these markets will finally turn.

...the longer will it last before the final lows of this precious-metal bear will be reached then ultimately.

And with the most recent assaults in Paris, it is to be expected that gold and silver will newly start a response of defiance for at least a short period and thereby the current bear lows will succeed to be defended for perhaps a couple of weeks.

Gold will have to attain and work off the 1000$ in this bear market, unless it won’t be able to turn upwards finally! And the longer it refuses to work off this magnet, the deeper the abyss will open if the 1000$ get lost on monthly closing base in the course of the year 2016. This is however the assumption I’m working on by now, and so should you be… meanwhile I’m anticipating the 8xx$ to come definitely in the year 2016.

The last time I intensely dealt with gold in the free area/newsletter was Sunday, 10/18/2015. By means of the GUNNER24 Signaling situation, then we could steady that the Thursday before (10/15/2015), an important tradable countertrend high at 1191.70$ had been reached. In the further course, gold was supposed to correct at least down to 1150$ before the chance for another up leg in the countertrend would appear. Yet at that time things were stinking tremendously already in the gold and silver environment.

 

 

==> As early as 4 weeks ago, the Commercials short-positioning suggested the existence of enormous downwards potential in gold and silver, with view to some more lower bear lows into the end of 2015.

==> At least the December 2015 gold futures contract reached now – last Thursday – a small lower bear low than the July 2015 low with 1073.70$. The absolute gold future bear low of 1072.30$ was not attained yet on Thursday:

 

 

Above, you see the currently most dominating down setup for the December 2015 contract. It starts at the final year high 2015 (January) measuring 8 candles down ensuing from the year 2015 high.

==> Important is this: Since the setup starts at the 2015 high, this setup also indicates many important year supports and year resistances whose break or break through delivers important signals exceeding the weekly or monthly bases… they are important in terms of the signaling for the rest of 2015, but also for the entire year 2016.

The analysis is going to start at A). That, closely beneath the lower line of the 1st double arc is where the interim contract low at 1073.70$ was achieved at the green dotted GUNNER24 Diagonal and the 1073$ yearly pivot magnet on 07/24. Afterwards, being held and stabilized by the 1st double arc and the diagonal at B), gold could reach the 1*1 Angle in the countertrend.

Since the 1st double arc as well as the 1*1 Angle can be derived directly from the 2015 high, they are important magnets considering the entire year 2015.

Thus, the 1st double arc is resp. WAS!! important support for the whole year 2015.

Thereby, the 1*1 Angle (in the chart above called 2015 1*1 Angle) is important resistance for the full year 2015 BUT ALSO for the full year 2016, perhaps 2017 etc. So, as long as gold is not able to take the 2015 1*1 Angle upwards, there won’t be any all-clear for the bulls.

On with the analysis:

Hence, the last countertrend on weekly base finished at B) at the 2015 1*1 Angle = year resistance. Gold showed a hefty reaction to this resistance! Enormous downwards forces arose at this year resistance. As a result, the 1st double arc = year support was pulverized ruthlessly in the course of the week before last.

I.e., the week before last, the important year 2015 support of the 1st double arc broke! This is a sell signal. It’s another strong sell signal in the weekly time frame because with that we have ONCE MORE the signal that the upper line of the 2nd double arc is worked off. The probability of the upper line of the 2nd to be reached in this bear market is at concisely an 80%.

The upper line of the 2nd double arc is at about 1023$, the lower line of the 2nd at about 973$ for January 2016.

After the Paris assaults is now to be worked on the assumption that the stricken gold bulls (Hedge Funds) are going to use the indeed for now stable double low at the 1073$ yearly pivot magnet as starting basis for another counter move. Gold with its safe-haven function… Now, rather swiftly, I mean within a few days, gold should have to:

==> Test back the Resistance Angle (for next week at 1110$) at first that was finally broken downwards in the course of the week before last.

==> Yet in the following upmove (expected duration 1-3 weeks) a quick, clean backtest of the downwards broken1st double arc (formerly year 2015 support, now strong resistance for the rest of 2015) will very likely to become necessary in the range of 1123$.

We’ll have to work on the assumption that the downtrend won’t gather pace again before the backtest of the 1122$-1124$, in order to crack successively the current double arc low at 1073$ finally.

A break of the 1073$ is supposed to release enormous downwards forces and thereby another several week panic wave. Anyhow, the 1073$ has held for almost 4 months now. So, many bulls already proclaimed the final bear low after the first test of the 1073$ in July 2015. You may monitor/observe the next days the way those prophets will exult soon again when after a potential double low at 1073$ gold newly starts rising.

My expectation is now that the 1000$ and the 973$ fall due to be worked off than the 1023$ can balk a final 1073$ break.

On 08/02/2015, briefly after the 1072.30$ July bear low being reached, so to speak in a fundamental contribution, I recorded for you why from the 1923.70$ gold all-time high by means of 1/2 + 1/4 +1/8 + 1/16 divisions the important future horizontal magnets for gold can be derived in intervals of 200$ + 100$ + 50$ +25$.

Why for instance the 1523$, 1323$, 1123$, but also 1073$, 1023$ resp. 973$ are and keep being important horizontal magnets for this gold bear… 

 

 

Please read up the free GUNNER24 Forecasts: „The importance of 1072.30 for Gold" once more intensely. Even though we cannot always know in advance the reaction of gold to them being worked off/reached, but we are indeed able to evaluate the next higher and lower horizontal magnets, relevant for gold, that arise from the final break of one of these horizontal magnets.

To complete this issue, let’s have a brief look into the year 2016 – touching 2017 as well.

I’m going to show you now the most important resistance for this bear market. Not before this resistance on monthly closing base is overcome, we’ll be "ALLOWED" to assume that the precious-metal bear will have made an important, perhaps final bear low. No matter whether the 1073$ nevertheless holds or before the 1023$, 1000$, 973$ or – as I rather expect the 8xx$ will mark the final bear low in 2016:  

 

 

Above, you see the monthly development of the continuous contract since the 2008 bear low. We can work out the currently most ruling resistance of this bear by measuring with the elliptical method the first initial up impulse of 8 months of duration associating mathematically this very first important impulse ensuing from an important low with an important high.

Thereby arises the elliptical GUNNER24 Up Setup above that per se puts out future magnets (resistances/supports) for the price after all.

We see the context between the 2008 bear low and the 2011 all-time high (ATH) at the orange oval because the bull market ends at the upper line of the 4th resistance double arc. Upper line of 4th is now ATH resistance = another decade resistance for gold.

The ATH at the upper line of the 4th resistance is thereby connected automatically with the important lows of the first bear leg after reaching the ATH. At green 1 + 2 also ev. at green 3, this first bear leg reached the lower line of the 3rd double arc = support then.

After the final break of the lower line of the 3rd support in the year 2013, gold tested the lower line of the 3rd altogether 5 times NEGATIVELY in the years 2013-2015, eventually 6 times from below = red note 1 + 2 + 3 +4 + 5.

Last, the lower line of the 3rd was pinpoint reached at the October 2015 countertrend high, gold being driven back for the 5th time by the resistance of the lower line of the 3rd elliptical double arc.

==> Since the lower line of the 3rd elliptical double arc mathematically results from the first 8 months impulse, starting from the 2008 bear low and the ATH (2011) at the upper line of the 4th being tested several times negatively in 2013-2015, the lower line of the 3rd is now DECADE resistance for the metal.

Decade resistance it is because A) its origin is in the final bear low of the year 2008 after all and B) its resistance function can officially last until March 2017. Not before that month, the lower line of the 3rd elliptical double arc intersects the time axis.

==> Thus, the market gave us a very serious clue on how long this bear may still last. Maybe until March 2017. The time factor – depicted by the lower line of the 3rd – obliges gold to remain in the overriding bear market for still almost 1.5 years. Thereby it’s no miracle that I can imagine gold to be forced to reach the 8xx$ within this bear!

Consequently, from the trader’s point of view we’ll have to trade each next touch to come with the lower line of the 3rd from the short side!!

I think, because of the current Fib count, gold has got a good chance now of delivering soon its final bear low resp. its next important bear low:

==> Including the ATH month, with November 2015 as many as 52 months have elapsed now.

Since the important and high 55 Fib number is now in sweep to this bear market being expected important changes exactly at resp. closely before or after the Fib numbers, perhaps as early as in January 2016 = 54, February 2016 = 55 resp. in March 2015 = 56 gold may find its next important bear low.

Ideally, it will be at 1000$ resp. closely below that at 973$. In the ideal case, the break of the 1073$ should be accompanied under high volumes to the 1000$ target region proceeding in panic. Absolutely ideal would be the 1000$/973$ being worked off in January 2016, because the final high of the year 2015 was also reached in January. Keyword 1 year cycle inversion!

If the gold bear comes to an important bottom in January 2016, accompanied by large volumes, the Commercials being long withal in January, such a January 2016 bear low at/below 1000$ might really mean the final bear low.

In these whipsaw markets of the last weeks that might confuse any trader thus leading mercilessly to burning the trading account the professional signals have got their special importance. You get them in the GUNNER24 Gold Trader!

 

You best register with our GUNNER24 Gold Trader now. That’s where we oversee the optimal entries and exits for you. Especially in the difficult market situations where many factors have to be considered the Gold Trader is backed by the additional GUNNER24 Signals based on the combined 1, 4 and 8 hour setups to catch the optimum entries and exits.

 

 

 

Be prepared!

 

Eduard Altmann