Possible 3 scenarios:
1 ) the bear market resume and this 2 year long sideways move was just a distribution
2 ) we will have a bounce but not very durable and then we will go down for a double bottom or even lower
3 ) this was a long inverse H&S bottoming pattern and we will have the confirmation that a new bull market started in january 2016 and we should AT LEAST
go up to touch the old top near $2000
My favourite is,of course,number 3,but if I should bet my two cents I would choose number 1 or 2.
The Billion Dollar Question
Possible 3 scenarios:
1 ) the bear market resume and this 2 year long sideways move was just a distribution
2 ) we will have a bounce but not very durable and then we will go down for a double bottom or even lower
3 ) this was a long inverse H&S bottoming pattern and we will have the confirmation that a new bull market started in january 2016 and we should AT LEAST
go up to touch the old top near $2000
My favourite is,of course,number 3,but if I should bet my two cents I would choose number 1 or 2.
Good summary Mamare
I recognize gold sucks.