A quick synopsis on this metal, coming to a cycle completion of the Geo:
1 - Price hit Predictive/Forecasting Model's qualitative target, defined at 98.27 on June 22nd;
2 - A "Warning Level" at this institutional weekly level may offer solid support and ground for reversal, here defined at 91.98;
3 - A large geometry defined by the "Geo" meets the following conditions:
a -- 1-2 Leg integrates a reciprocal ab = cd symmetry
b -- 2-3 Leg completes a complex (here, a IMP-COR-IMP is drawn in)
c -- 3-4 Leg completes a simpler ("ZZ") than 2-3 Leg
d - 4-5 Leg completes a simplest ZZ
e -- A permissive Tunneling lets a 1-4 Line through the geometry
f -- Transposition of 2-4 Line offers a point of repose for Point-5-prime (5')
If and once a reversal occurs in the 91.98 ("Watch Level") vicinity, look for a possible reversal to a price level corresponding to Point-4, as per Geo's Off-Set Rule.
Confluence of Predictive/Forecasting Model's target at 91.98 and Geo's 5' is likely to impact price. Whether of not this should suffice to reverse price will have to be appreciated over an unusually longer period. However, Forex traders might want to keep this metal in mind, as we are also looking at $XAU and gold-sensitive sovereign currencies, such as $AUD, $CAD and $CHF, and to some lesser extent $NZD.
In other words, a rallying in $XPTUSD may be occurring at these defined levels, heralding a possible reversal in the class of precious metals - See recent target hit on $XPTUSD: .
Predictive Analysis & Forecasting
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Last 22 JUN 2015, I posted two bearish targets from which the Predictive/Forecasting Model expected a bottom-tip reversal (from the Watch-Line - typically colored in BLUE) target at 91.98 which it hit at the tip-end of a reversal candle last month. Since then, price rallied and remained buoyant above that target) - Besides the Predictive/Forecasting Model assertion that price is likely to remain above this abysmal target, and eventually rally (using a background data offered by the Geo, as we applied the Geo's Off-Set Rule, which sets a reversal from a Point-5 excursion as 5' to reverse to the price level of Point-4 - "Rule #2) to the level illustrated in the chart - Geo's Off-Set Rule application, Rule #2;
As added visual support for the more mecreant chartist and trader in our midst, I have applied a variety of very simple reciprocal ab = cd symmetries. For instance, the largest one tip-ends at the Predictive/Forecasting Model's 91.98 vicitnity. Additionally, the last down-swing offers a similar reciprocal ab = cd symmetry, rotating around a shallow retracement - some might recognize a "nodule", with its own impact on future price rally, projecting forward a new and persistent pivot.
This is a glacier-paced chart, being the large institutional frame it represents, but one that is worth keeping in mind, as we are pacing price of GOLD and its own high-beta, precious metal/commodity-bound currencies: $CAD, $AUD, $CHF, $NZD and $EUR as a dollar antipodian and correlated currency with gold.