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I don’t think the move higher is due just yet. I’m in the bull camp for sure! However, dollar/yen broke lower, no Gold follow through upside. Divergence.
New low (USD/JPY) no new high (Gold) – yet.
looking from an EW POV the last sideways In dollar yen seemed like a consolidation 4th wave…the bounce was weak. I don’t feel the ICL is in yet, but we are in a 5th wave down of the OLD IC. At the moment it’s wave 3 of 5, which has exceeded length of wave 1 of 5. Expect a mini 4th wave and a final bottom and strong reversal.
The fact Silver closed below 10day moving average miners were not bothered, has been perplexed. I can’t wait to be a Bull again, but for now, I see it as a typical head fake. Mr market manipulation to sucker us Bulls in. Or I could be wrong. Of course.
Plunger’s Interest Rate Series is making so much sense that am going back in the PMs …”accumulating is the work”
with little concern for short term fluctuations.
Sir Waz…you have come a long way in a short time. I tip my crown to you for learning Chartology Cycles and EW all at the same time.
Let me see your ID ….you cant drink in this bar unless you are 25 or over
🙂
Hahaha thank you fully. I’m not liking divergences in play at the
Moment have me feeling suspect but happy to be wrong soon enough!
Agree with Plunger 100%. His bottoming system is A1 and accumulation at these levels is most wise. However we always want to see lower to buy in maybe I’ve fallen into that trap…