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The bullish count for GOLD and GDX is still on track.
We are right on the neckline of the Inverse H&S. In my opinion it is very important to close the week above 1350.
With the China’s Lunar New Year starting tomorrow, it will be interesting to watch. for a reversal by the Bullion Banks.
Thanks Gabe! I’m seeing you may be favouring 38.2% pullback from spike low here? I see the i ii that corresponds to this in wave 1 was relatively shallow and small. Perhaps we don’t even get 38.2%?
Sub-Minuette wave (ii) is just indicative.
Difficult to say what will be the type of pullback, possible we reach 1337 (50%) – 1332 (61.8%)
but i am looking for a simple back-test of the pink line near 1344-46… Of course i can be wrong.
You’ve been right on the money lately Gabe.
Thanks