Its been difficult to get a precise medium term wave count on the but to my best this dose confirm my longer term outlook.
The longer term purple and blue waves which we are in a blue 3 that encompasses a purple 3erd Wave. This giving me a long term bias on Gold . Medium term Gold looks also to be in a Orange 3erd wave. A 100% of Orange wave 1 @125.31 GLD A 161.8 of Orange wave 1 would be @129.23 The 1st longer term target I'm watching is at the high of 2016 @131.15 which could be the end of blue wave 3. Note there should be an orange 5 wave move within the blue 3erd wave.
Levels to take note: -GLD-
- 124.76 - November 2016 High (Light Resistance)
- 125.31 - 100% Extension of orange wave 1
- 129.23 - 161.8% Extension of orange wave 1 (Orange wave 3 Target)
- 123.07 - 2017 Breakout level - Should provide Support If its a choppy orange wave 3 higher