AMEX:TRX TANZANIAN ROYALTY EXPL CORP
At 60min / daily I see a bigger SHS . On the smaller time frames there is a possibility - first of all of a IHS with a consolidation period right now around 2,49 neckline. This IHS could create a later head test with a reach of the 1,27 fib. From there on...let's wait and see. Gold is still weak and could still be working on a in the 1200 area. The clouds on this development hasn't cleared yet
Well doesn't seem to be the small IHS I looked for on the chart above but a bigger one could be setting up. BUT BUT!!! Gold need to show some strength or create a double bottom if that is to become the case. Right now I see a 5th EW topping out around 3,69 before a retrace. Therefore a new chart with new fib settings.