You would probably want to see the Fed hike rates again between now and June to give your theory some weight I want to see a monthly close above $1400 to confirm, but at this stage from what I see in front of me, I have to say the gold bottom is in. That's not to say we couldn't see a large correction below $1190. I was reading somewhere recently that each time gold has risen more than 20% from a bottom it hasn't retested the low, but each time its rallied without getting above 20%, it has corrected to form new lows. Whether that's on a daily, weekly or monthly chart I'm not sure but we are right on the verge of 20% at the moment.
