GOLD EW Update
It looks like we have 5 waves done for Minute wave 1 (blue). I am anticipating a simple or double zig-zag (w-x-y) for Minor wave 2 (blue)
before the FOMC tomorrow. They will make everything to make this market looks bearish. Please note i have the same count for GDX.
On the weekly, we have this bottom preparation (Inverse H&S, saucer, rounding bottom,…) whatever you want to call it.
We can pullback to 1301 (50%), 1286 (61.8%) or even 1264 (78.6%) like gold wants to do sometime.
Note: in the case of a simple zig-zag, we will not reach these targets. Project, Monitor, Adjust.
Invalidation of this count at 1236.5 so we have time …
… and the Dollar, still falling:
Thanks for this Gabe.
I don’t think its a 1 up, with 2 down to come.
I realize Breeze thinks so.
But I don’t think Barrick does.
We should know a lot more in the next few weeks though.