Shoulda caught this H&S neckline before... Looks like one more impulse down to complete wave 5 of C and the H&S pattern.
Massive support levels around 1433-1425. Wave 2 top, channel bottom, bullish gartley, 1.618 AB=CD extension. Looking for oversold conditions on higher TFs and bullish divergence. Easy buy in this range, Feb GLD calls look tasty once we get a lower low.
Massive support levels around 1433-1425. Wave 2 top, channel bottom, bullish gartley, 1.618 AB=CD extension. Looking for oversold conditions on higher TFs and bullish divergence. Easy buy in this range, Feb GLD calls look tasty once we get a lower low.
Comment:
Looks like GOLD is coiling for a breakout... look to see if it can maintain this shallow channel like in May. The Fed is staying put... once the flight from risk-on assets begin I expect GOLD to rally to upwards of 1600 by April.
Comment:
GOLD rallying as expected.... despite perceived "safety" in us/china trade deal. One has to wonder why. The answer is probably a selloff in bonds and equities coming in the next several wks.
