We've reached the 1st level at the end of the 1st wave at the 50 and the blue .
Next week we have to print a DCL with oversold at or near to the 100 . Bulls will have to face with the next big surprise: the blue area is not a . It's going to break down not to the upside...
The first 3 daily cyle lasted for 25-30 days, this one is already 10 days longer so timewise we have to print the DCL at the beginning of next week (Tuesday or Wed)
Indicators: 10 and 20 is crossing over, very , is heading to oversold...
So this 2-3 days will be really scary for the goldbugs, by the DCL we will loose most of the weak bulls.
So next week I'm looking forward to see price printing a daily cycle low around the red and the 100 (1220-1225).
Don't forget : time is the keyword. (For the following levels pls check "The bear awakens" post)
I would like to see as price is coming down into the red box by Wednesday.
Tomorrow or On Thursday we will enter into the red box there will be tha daily cycle low.
Last hope of the bulls has fallen.