The final wave 5 is underway with ultimate target ~$19. Target is calculates as 0.61 extension of distance between 0 and end of wave 3 measured from the end wave 4. In daily wave count (pink) the target is ~$18.97. in 4h wave count the target is ~$19.
Invalidation level 17.8 - top of wave 4 in 4h wave count.
Seems that 1 leg up has been already formed on Friday. So only 2 legs up are left. This is aligned with oil market behavior in particular clear on Brent crude oil chart - wave 5 downward movement is underway. Gold will probably be seeking for 1570-1580 top.
On completion I would expect reversal of silver/gold/oil market(s).
Oil will start a large (daily) scale 5 wave trend up. Gold and Silver at least should suffer a deep correction. Next week is going to be very interesting.
Happy trading to all.
Larger scale wave count
Invalidation level 17.8 - top of wave 4 in 4h wave count.
Seems that 1 leg up has been already formed on Friday. So only 2 legs up are left. This is aligned with oil market behavior in particular clear on Brent crude oil chart - wave 5 downward movement is underway. Gold will probably be seeking for 1570-1580 top.
On completion I would expect reversal of silver/gold/oil market(s).
Oil will start a large (daily) scale 5 wave trend up. Gold and Silver at least should suffer a deep correction. Next week is going to be very interesting.
Happy trading to all.
Larger scale wave count