Gold Attempting To Form Cyclical Bottom
Erik McCurdy | Oct 25, 2013 02:42AM ET
In identified the potential formation of the latest ITCL during the week ending October 11. Although a cycle low signal was not generated, gold has continued higher this past week, further supporting the long-term bottoming scenario.
As always, it is important to remember that a long-term bottom is a process, not an event. Cyclical lows are confirmed in stages as specific short-term and intermediate-term objectives are achieved. The formation of the latest ITCL in early October could be confirmed as soon as tomorrow, so it will be imperative to monitor gold market behavior closely for this potentially important intermediate-term signal.
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