Attempting to put more pieces of the puzzle together, considering my ideas on the miners recently published, from what I have seen over the years, B / X waves or alike (as potentially marked on the chart with a black line) usually have a subsequent opposite move in price at the end of such a wave. Therefore, the move in gold from 2016 low would have ended with a subsequent fall crashing through the lows, perfect example being the wave Jun-Sep 2012.
The fact that the price is struggling to fall lower on numerous occasions since the 2016 advance, in addition to the most recent print on the weekly having a wick and green candle, leads me to believe that at least the previous highs are able to be breached. Then, there may be a fall lower, but that is another analysis when more price info is available.
Summing up, evidence suggests that a bottom (or soon to be) of this down move is in, and now a move higher is in progress. Whether it is impulsive or not, I do not know. Therefore, this move up could possibly tie in with the simple analysis I have most recently put forward for the miners.
The fact that the price is struggling to fall lower on numerous occasions since the 2016 advance, in addition to the most recent print on the weekly having a wick and green candle, leads me to believe that at least the previous highs are able to be breached. Then, there may be a fall lower, but that is another analysis when more price info is available.
Summing up, evidence suggests that a bottom (or soon to be) of this down move is in, and now a move higher is in progress. Whether it is impulsive or not, I do not know. Therefore, this move up could possibly tie in with the simple analysis I have most recently put forward for the miners.