Loading ...$GOLD – Daily
Cycle analyst or psycho analyst – not sure which one to call. LOL
Here’s a fresh look at the near term gold cycle. The Intermediate cycle lows (ICLs) marked on the chart suggest an ICL is due soon. Then too, a dip down to the $1270 area builds out a perfect 5 point reversal pattern (something for the purely TA guys)
That’s the view from here.
Ive been battling with this for a number of weeks. I dont know how I feel! haha. Part of me doesnt believe march spike low was the ICL and we may have a little lower to go. However as more time passes it does look more and more like an ICL. However if we take it in isolation as a DCL, then the trendline from December through that was broken and we are in an ICL decline. If so we may break the low ever so marginally. Alternatively, There seems to be the rectangle pattern, forming itself an IHS, with that March low being the head.
Foxy…your charts are best in Class lately !
Simple , clean , clear lines…a fresh look every time
PS….don’t let it go to your head