The round 1100$ is supposed to be worked off by the end of March, beginning of April. The former bear market low is at 1130$ not being likely to balk much.

Whether the 1100$ is going to stop somehow leading to a next several- week upwards bounce = countertrend in the bear market remains to be seen, as there are increasing signs that since the January 2015 highs gold, silver and platinum are in a panic cycle reckoned to persist for several months – as illuminated in detail in the

GUNNER24 Forecasts, issue 02/08/2015, „Gold – Disillusioning – Again“


GUNNER24 Forecasts, issue 03/01/2015, „Platinum targets 748$ now“

likely to lead gold to at least 1000$ till September 2015, perhaps to 800$ till the beginning of 2016 respectively platinum to at least 748$ till at the latest March 2016. All in all: The panic cycle is indicating its presumed end between September 2015 and March 2016. One day or other in this stretch, the bear market lows for gold and platinum are to be expected.

In the GUNNER24 Forecasts, issue 11/09/2014, „No mercy, 15, 13, 11 and 7 I dealt with the price-and-time targets of the silver bear. One option of this silver analysis is that silver shall deliver its bear market low in the space from late spring through summer 2015.

Which way and why panic cycles arise and how to range them in the total picture is consigned by this splendid description on




Back to gold now and the soon upcoming 1100$. In the GUNNER24 Forecasts, issue 02/08/2015, „Gold – Disillusioning – Again“, I suggested that this weekly down setup has currently an important signaling effect to the further course of gold:


This setup gives us the signal when the trip to working-off the 1000$ mark is supposed to start. The processing of the 1000$ is a compellingly necessary target – the minimum price target – for this bear. I urge you to look up again in the GUNNER24 Forecasts, issue 02/08/2015, „Gold – Disillusioning – Again“ why is that.

A month ago, there were but 2 options left for gold. Given the level of 1233.30 then, gold might either have newly chosen the way upwards to work off the maximum target of this countertrend move between 1318 and 1325 in order to test the 1130$ afterwards, aiming at 1000$ subsequently – or it might rather promptly have lost the support of the lower line of the 3rd double arc, combined with the important 1200-1222 GUNNER24 Monthly Support Horizontal, in order to aim at the downtargets directly. The latter happened.

Here now the current state of gold in the important and dominating weekly 19 Candle GUNNER24 Down:


Two weeks after the last analysis, gold closed significantly beneath the lower line of the 3rd and the 1220-1222 monthly support. Thus, a sell signal towards the next important downmagnet, the 1102, was triggered. 1102 is the horizontal that springs from the intersection point of the upper line of the 2nd double arc with the starting point of the setup. 1102 is near to the round 1100$. Thereby, the 1100$ is clearly the next target…

So, two candles before the present candle, an important combined weekly and monthly GUNNER24 Support region broke. All the same, at least from my point of view, it was still possible that this first sell signal was matter of a false signal, since the current as well as the last candle at the highs were fighting for the 1220-1222. If the current candle had re-conquered the 1220-1222 or at least closed near to this mark, everything would have been going smoothly. Last Friday, all dams broke instead.

==> Sometimes, you just can’t believe what is acting out in front of you, with what a fierceness a multitude of important GUNNER24 Support Magnets are being smashed, willy-nilly. It is as if you experienced a family member being slayed by a jumbo jet. You hardly believe it, you just can’t imagine what you experience, see and feel. You have to consult your pillow for 1 or 2 nights to reason out and digest the near and far consequences.

This is what happened with gold on Friday and the disgusting weekly close and with me over the last two nights. A jumbo jet fell on gold. It is dead. Really, there are no other means of interpretation left to me. Miracles can be hoped for, maybe. The signaling is different however. The downtrend is supposed to accelerate again. It seems to be in the confirmed panic move.

This multitude of magnets on monthly and weekly base were shredded, smashed, purged in the course of last week:

The monthly 1220-1222 support was tested back at the weekly high. The test result was negative. The bounce from the 1220-1222 also led to the break of the next lower 50$-GUNNER24 Support Horizontal in the monthly time frame at 1172. The week closed at 1168.20 and therewith significantly below this monthly horizontal. Thus, the 1172 is again weekly resistance, for the time being. By all means, next week is going to test back the 1172, but it is almost impossibly able to close above it (from 1178 and higher) significantly!

Now to the vast amount of broken weekly supports brought along by the Friday sell-off:

The Resistance Angle, broken upwards significantly in January 2015, had to be given up again. Very, very negative! The Resistance Angle stood for the entire year 2014. The fact that it was not defended after just a few weeks in 2015, not even at the first back test, shall make accelerate the existing downwards forces.

Simultaneously, the 1*2 Support Angle starting from the current 1130$ bear low – I called it ATL 1*2 Support in the chart above (ATL = all-time low) – could not be held at the second test. That means, the existing downwards forces are supposed to keep on accelerating.

Technically, the Resistance Angle, together with the ATL 1*2 Support Angle, are representing a strong cross support for the week. This one has fallen significantly as well, so the existing downwards wave is supposed to keep on accelerating…

==> All these Gann Angle sell signals are activating now a test of the important Support Angle visible in the chart above (green/yellow ovals). It was main support for 2014 being supposed to be main support for 2015, too. Visibly, the Support Angle is taking its course below the round 1100$ for the further months. Well, the 1100$ isn’t either supposed to provide support for a long time, thereby, if at all. Depending on the moment when gold breaks the 1100$ downwards, it shall reach the Support Angle till April 2015 at about 1072-1065.

==> If gold actually reach/tests back again the ATL 1*2 Support Angle at 1180 next week, go short!

Also the signals respectively supports of this weekly 14 Candle GUNNER24 Down Setup would let gold margin upwards yet.


This 14 candle down starts at the important 2012 countertrend high. I’m not going in detail to the question how gold has performed at the important forecast GUNNER24 Magnets since then. I’m focusing upon the current signaling, targets and presently important supports and resistances of this setup.

The very most important realization/conclusion is that gold lost its 5th double arc support with the week ==> the next coffin nail in the weekly time frame! ==> the existing downwards forces are supposed to keep on accelerating…

For the very first time, gold closed below the 5th double arc, thereby activating lower target short and mid term. In the past, gold oriented itself by the previous double arcs. They supported the market more or less strongly over several weeks. Mind on this all the big green ovals.

==> The fall of the 5th firstly allows gold to fall totally down to the maximum price extension of the very first initial down impulse that lasts 14 weeks. I didn’t manage to squash this price mark visually into the chart. It is situated at about 840$. Simultaneously, this down setup will expire by the beginning of October 2015… this gives us another clue for the point when the panic move might come to an end!

This setup, too, is showing that gold lost an important Gann Angle support with the week. It is the matter of the Support Angle (mentioned in the chart above) that likewise was first broken upwards in January 2015 and that couldn’t either be defended at the very first back test.

Thus, the week didn’t only break downwards some important support that had started from the all-time highs of the year 2011 (weekly 19 candle down), but it also lost some important combined supports that had started from the absolute high of the year 2012.

Last week smashed some supports that had come from the high of the year 2011 + from the high of the year 2012 ==> the existing downwards forces will have to keep on accelerating

Now to the possible miracle:

There’s still a very last bull support at 1142. 1142 is a weekly support horizontal. If this horizontal surprisingly held somehow till the end of March, it might come again to a 2-3 week bounce up to 1200 or so, before gold will have to reach the 1100$ mark from there.

==> I think however that the host of smashed support magnets will lead to an intensified acceleration of the downtrend. Technically, there is no other possibility of interpretation! The 14 candle down is putting out that between the current price at 1168.20 and the next lower weekly support at 1050$ - likewise a GUNNER24 Horizontal – is actually just only the 1142 horizontal. If this one falls on daily closing base (2 consecutive daily closings below) at first the 1130$ (ATL), then the 1100$ and afterwards the 1072-1062 will technically be expected to provide just interim stops until the 1050$ will be reached.

==> If the 1050$ falls on weekly closing base, the next important downmagnet will be the 1*1 Gann Angle. This one provided strong support combined with the 5th double arc at the ATL in November 2014. I think, a new test of this important Support Angle below the 1050$ horizontal should actually be the consequence from the powerful sell signal that was generated on Friday. I think that the 1*1 Gann Angle will be reached until October 2015, at the latest! When and where and how often it will be tested and whether it will finally hold or not will have to be the result of posterior analyses.


Be prepared!

Eduard Altmann

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