Category Archives: Precious Metals

Gold

Correcting Down :

After unfolding an ending diagonal in Minor degree wave 5, Gold should be now in the early stages of correcting in likely an A-B-C zigzag (of one larger degree) to the downside.

Technically, the expected target at 1206 would be pointed well as Minor wave A’s extreme.

Gold - Daily

Gold

Bullish Outlook :

Gold could have concluded its correction as Minor wave 4 at 1206. The current advance in the same degree fifth-wave should eventually carry to a new high (above 1287.8).

The bullish count is in place, while the price hold above the 1206 extreme.

Gold - Daily

Gold

Uptrend :

The strong retracing up (23.19%), that started early December, has still remained under the upper line of the medium-term channel. A weekly close above the channel line would fully confirm the bullish outlook in corrective stage as Primary wave ((B)).

Note : With respect to the wave structure, the advance as a five-wave in Intermediate wave (A) might still be extended to a new high.

Gold - Weekly

Gold

Bullish View :

Gold could have registered the Minor wave 4’s extreme at 1206, surround the expected target, and left the double-zigzag correction(81.8 points) in an exhaustive state.

The trend has turned to the upside now, and expect the Minor-degree fifth wave to rally in the coming days.

Gold - Intraday

Silver

Correcting Down :

Today’s sharp selloff (4.39%) should be a final stage of correcting down in Minor wave 4.

Silver will soon resume the Intermediate trend to the upside. Its Minor-degree fifth wave, when it starts, will be a significant rally to new highs.

Silver - Daily