GOLD update: I have altered my count on GOLD slightly after seeing the trading action the past few days. The push off the recent lows has been quite weak and so it has caused me to re-analyze. I now favor the view that we are in an X-wave triangle that is very soon coming to its conclusion.
I had previously projected that GOLD will test the $1,535 high and fail, but now I have labeled the most recent high at $1,519.53 as the C wave in the triangle, meaning that I now anticipate GOLD will not breach that level. My analysis leads me to project that we will see a push towards $1,505-$1,510 this coming week and then sell-off to test the $1,400 level in mid-November.
Thanks for your comments.
Benji Miller
I had previously projected that GOLD will test the $1,535 high and fail, but now I have labeled the most recent high at $1,519.53 as the C wave in the triangle, meaning that I now anticipate GOLD will not breach that level. My analysis leads me to project that we will see a push towards $1,505-$1,510 this coming week and then sell-off to test the $1,400 level in mid-November.
Thanks for your comments.
Benji Miller