Jim Sinclair’s new angels

Click here for Jim Sinclair’s new angels for the gold price during this 20-year gold bull market.

Jim calculates these prices or “angels” by a method from his father Bert Seligman, who worked with Jesse Livermore. These “angels” are prices where there is a fight in the gold price level before moving up to the next “angel”. Similar to support and resistance levels, but do not use these as trading channels. These prices tell us where the next fight will be and that we are not in a gold bubble.

Right now, $1764 is a key level. It is a level where sentiment about gold will change in the mind of investors and the bull market will accelerate. In addition, movements in gold will become more and more volatile on a daily basis.

Jim doesn’t have a timeline for these “angels”, nor does he have a final number. The timeline and final high is dependent on the global debt crisis and how much fiat money gets printing trying to fight that crisis.

Jim has mentioned Martin Armstrong’s and Alf Fields’ $10,000 gold high. He has also mentioned Martin Armstrong’s 2015 date as a date for a crisis in the dollar.

Jim also looks at the devaluing of the dollar, with .72 being a key support level.

So, will things get worse? Yes, at the very least from now until 2015. As we get closer to 2015, we will have a better idea if that is the exact time of the currency crisis. If the crisis will occur and then we will experience growth again. Or if the crisis will occur, but we will have an extended period of no/little growth. Those possibilities will determine how low the dollar will go and how high gold/silver will go and when those things might happen.