GOLD
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There is a pretty good chance that wave (e) of [iv] has completed at this evenings lows.
The pattern off the wave (d) high has traced out three waves.
Five waves down in 'a',
a three wave correction higher earlier today in wave 'b',
and then a spike lower this evening in wave 'c' of (e).
More importantly,
the pattern has created a higher low above wave (c), in wave (e) this evening.
Add to that,
the fact that the price has now rallied out of the session low in a pretty sharp move higher.
And we have all the pieces in place for a completed triangle
in a large degree wave [iv] green.
This correction has gone on long enough now,
and I think it is time for the market to begin the rally into wave [v].
Tomorrow;
The session low came at 1481 to complete wave (e) and wave [iv].
Watch for that low to hold tomorrow as wave 'i' of (i) begins to the upside.
Now I am looking for a five wave pattern higher out of the triangle to begin the next leg up in gold.
This market could be about to get very exciting again,
with the prospect for new multi year highs in store for gold in the coming months.
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