Is .0006th Of An Oz Of Gold Significant Enough To Call The Bottom? [Yrly/Qrtly/Mthly Charts]

Yes.
.0006th of an ounce of gold = 80 cents, at $1250 the oz. How can 80 cents be significant relative to gold at that price? It is a tiny gap in price that was never filled. The probability of December 2015 being the end of the downside correction since the 2011 highs grows with each passing week/month. As our regular readers know, our focus is solely on developing market activity as determined by price and volume over time. We pay attention to what the market is saying about its participants and not what others are saying about the market.
There Are No Accidents:
The close at the end of December 2015 was 1060.20. The open for January 2016 was 1061.5 with a low of 1061, leaving a gap of 80 cents that has never been filled. [We use monthly continuation charts]. When looking at the higher time frame charts, the gap is so small that it does not appear as one, which is how we missed it, visually. We noticed it this week while doing a review of charts, and when we put the cursor on the annual, monthly, weekly charts, the December 2015 close of 1060.20 was clear, as was the January 2016 low at 1061, even though it did not appear as a gap when looking at the charts.

This post was published at Edge Trader Plus on April 1, 2017.