<Y>

Gold Weekly (Log Scale) REPRINTED FROM 5/16/2010 -E-

-C-
(Y)

<Y> Wave Price Targets:

-A-
-D-
$1,218 for 61.80% of <W> (log scale) (W)
$1,450 for 78.62% of <W> (log scale)
$1,387 for 61.80% of <W> measured from
the top of <W> (log scale) (X)

<W>
-E-
$732

-B-
An expanding Triangle would explain the “corrective” looking
price behavior between 2001 and 2005 which was followed <X>
by the explosive move into the $732 peak in 2006. $643

The sideways corrective move following an

expanding Triangle must be an <X> wave.
-C- (X)
(C)

(A)
(Y)
-D-
-A- (B) (W)
(C)

(A)
-B-

(B)

B
Andy’s Technical Commentary__________________________________________________________________________________________________
 Gold Daily ~ Log Scale -E-

-C-
(Y)
“e”

(B)
(D)

“c”
(E)
-A- (A)
“a” - D -?
(W) (C)
“d”

“b”
The B - D line is EXTREMELY important for
(X) Gold bulls. A break of this line would
indicate that this triangle has concluded.

- E - Wave Price Targets:

$1,214 for 23.6% of - C -

$1,293 for 38.2% of - C -
$1,422 for 61.8% of - C -

-B-
<X>
$643

Andy’s Technical Commentary__________________________________________________________________________________________________

 -E-
Gold Daily ~ Log Scale: The Bullish -E- Wave (E)

This would be the very bullish near term scenario for Gold. This suggests
we’re in the midst of an “expanding” triangle -E- wave which will terminate
the decade long move. Because the (C) wave, which was a clear correction,
was larger than the (A), this is a reasonable count. The last leg of an
expanding triangle should break the (A)-(C) line, which means we would see
a dramatic move closer to $1400/oz.

(C)
-C- $1,250
(Y)
“e”

(A)
(B)
(D) ( D )?

(B) The (D) wave may not have concluded yet.

(E)
(A)
-D-
(C)

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold Daily ~ Log Scale: The Bearish -E- Wave

This would be the bearish count for Gold. This suggests we’re in the midst of
a “neutral” triangle -E-. If this is right, we should see more congestion inside
1166 and 1250 before ultimately rolling over. Under this count, 1250
should not be bettered. So, a break of $1,250 would leave us with only the
bullish model on the previous page.

(C) -E-
-C- $1,250
“a” (E)
(Y) “c”
“e”

(A)
(B) “b”

(D) $1,166
( D )?

(B)

(E)
(A)
-D-

(C)

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold Daily ~ Log Scale: Classic Charting

This looks like a “cup and handle” continuation pattern, which is a bullish
setup. There has been a decent zone of support developed between 1156
and 1169. It won’t make sense to get too bearish on gold until this support
gets taken out.

The “Handle”

Zone of Support

The “Cup”

Andy’s Technical Commentary__________________________________________________________________________________________________

 Gold Monthly (Log Scale)
E
Breaking down out of this
triangle will be the confirmation C
that Wave-C has finished. $1,300-$1,400?

(Jan, 1980)
$873
A
<W>

<X>

(Nov, 1974) B
$191 $260
(Feb, 2001)?

Because we are only finishing the C-Wave of a Supercycle triangle, the next wave
down will only be a corrective D-wave. It should last several years and be sufficient
to wring out much of the bullish sentiment.
$101
(Aug, 1976)
$35
(Aug, 1970)

Andy’s Technical Commentary__________________________________________________________________________________________________

 DISCLAIMER WARNING DISCLAIMER WARNING DISCLAIMER

This report should not be interpreted as investment advice of any

kind. This report is technical commentary only. The author is Wave Symbology
NOT representing himself as a CTA or CFA or Investment/Trading
Advisor of any kind. This merely reflects the author’s "I" or "A" = Grand Supercycle
interpretation of technical analysis. The author may or may not I or A = Supercycle
trade in the markets discussed. The author may hold positions <I>or <A> = Cycle
opposite of what may by inferred by this report. The information -I- or -A- = Primary
contained in this commentary is taken from sources the author (I) or (A) = Intermediate
believes to be reliable, but it is not guaranteed by the author as to "1“ or "a" = Minor
the accuracy or completeness thereof and is sent to you for 1 or a = Minute
information purposes only. Commodity trading involves risk and -1- or -a- = Minuette
is not for everyone. (1) or (a) = Sub-minuette
[1] or [a] = Micro
Here is what the Commodity Futures Trading Commission (CFTC) [.1] or [.a] = Sub-Micro
has said about futures trading: Trading commodity futures and
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RISKY BUSINESS. Before you invest any money in futures or
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to lose above and beyond your initial payment to a broker. You
should understand commodity futures and options contracts and
your obligations in entering into those contracts. You should
understand your exposure to risk and other aspects of trading by
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