Rounded Bottom ?
I’ve had a closer look at this, and taken more time drawing the curved bottom and rectangle. When drawn carefully (unlike my previous post, which covered a much larger time period), we are reaching the curved support now. Both the upper and lower black, double ended arrows are exactly the same length, and the blue curved base is symmetrical either side of the late 2015 low. This is a scenario I’ve revisited a few times, and it’s still in play. A break above the $1400 area, sets up a possible rapid move to $1800. I wouldn’t rule it out as a possibility.
Wow. very helpful. the double ended black arrows are very informative. thank you
Not with the dollar exploding to the upside.
For those who find cycles helpful, Norvast points out in a earlier thread that the dollar’s daily cycle is within the timing band to top out right here(Calendar day 35 or market-open day 25) and begin its descent into the DCL. That would make this explosion a controlled one. Also, I suppose that international turmoil (trade disputes, Turkey, etc) can simultaneously boost the dollar and gold.
That chart is SO beautiful…it has to work out !!
Here’s hoping Fully. I think I’m one of the last Bulls standing. I think everyone’s starting to accept the dollar bull is resuming, and the gold bull was just a mirage. We’re closing in on that double bottom at $1050.