Gold (and miners) could be set to rocket higher

John C Burford applies his trading methods to the charts to see where the gold price could be heading next.

Last Monday, I showed that gold was very likely about to stage a sharp recovery. After analysing the waves and placing the most likely Elliott wave labels on them, I concluded that the decline off the 11 March $1,280 high was over, or nearly so.

This was the hourly chart I showed then:

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.