Loading ...Next cycle moment of truth?
Gold towards end of current cycle if not already this week as duration at upper limits already based on past cycle durations.
Chart still intact and so far can’t see a bearish case unless it goes pear-shaped next cycle.
Possible Q3 or Q4 breakout perhaps or even as late as Q1 next year depending on your level of optimism or pessimism – time will tell of course 🙂
Thanks, Jonno.
Great chart Jonno. I like the way you took into account the possible false breakdown and incorporated alternative scenarios.
Thanks guys. Based on charts something has to eventually give so I’m sure it won’t be boring like now watching it range!
4th wave completed after FOMC and ECB talk earlier this week, the rest was 5th wave of the C down. Now the first wave of the C wave 33 dollars so from the end of wave 4 -33 is 1276 which was reached today. If we get an extension to 1.618 the length expect a bottom anywhere from here to 1265 range me thinks. We are close enough to start buying IMHO if you have the stomach for it….
Good to note the additional confirmation Waz