With gold headed to hopefully its first good up month in the past 10 months (setting aside a small gain in March 2013) it might be time to look at what happened at previous gold lows since the major double bottom lows seen in August 1999 and February 2001.
Besides the major lows of August 1999 and February 2001, other significant lows were seen in May 2005 and October 2008. The 2005 and 2008 lows came following either a lengthy correction or a steep decline. The actual lows were followed a month or at worst two months later by a sharp up month that left bullish engulfing candles on the charts. The up month followed the August 1999 low in September 1999, the February 2001 low in April 2001, the May 2005 low in June 2005 and the October 2008 low in November 2008.
…..read more HERE