Gold can drop to the 1310 area to complete wave "e" of this triangle. As long as we stay above 1300,
this structure is still valid.
Gold and Silver are now sitting on the lower probably to shake some weak hands ...
I am expecting a resolution of this correction in a week or two.
The first sign will be a clear breakout above 1328 and after 1342.
From another perspective, if you look at the blue line on this chart, we can see the momentum strarting to roll over to the upside for gold ...
Anyway, thanks for sharing your ideas.
We just broke out of the long time bullish trend line on gold now, let's see how it plays out. I mostly do follow Elliot's waves and geometrics now.
We have a leading wedge in the A wave (can only occur in an 1st or A wave) if my wave count is valid. I am waiting for the (e) wave down in the wedge to form, before a bullish 3 wave B correction upwards.