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Hi everyone,
I hope the day treated you well!
On Monday I released this chart.
The wave count suggested a rally was imminent in a possible third wave.
Heres what I thought;
The rising trend line off last weeks lows, should remain intact,
watch for a renewed push towards resistance,
And a thrust out of the trend channel in wave 'iii' pink.
It took an extra day to happen,
But, Gold rallied strongly today in wave 'iii'.
This is a very strong hint as to whats next in the gold market.
If you want to stay on-top of the next big move in GOLD,
Check out the membership offers,
Check out tonight's analysis.
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GOLD
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[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]My Bias: Long to a new all time high above 1827.
Wave Structure: Impulse structure to a new high.
Long term wave count: wave (3) above 1666.
GOLD shot back into life today in a possible wave 'iii' pink to the upside.
This mornings initial selloff completed wave 'ii' pink,
The price then broke initial resistance at 1350, the previous wave (a) low.
The price structure is near to confirming a large rally in wave [iii] green dead ahead.
1336.47 marks the high of wave 'i' pink,
This level should hold as the rally continues into wave 'iv' and 'v'.
Tomorrow;
A break of 1366 will confirm wave [iii] has begun.
1336.47 should hold.
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