The Gold Rush.... has to wait until wave 5 is in.

A follow up chart to "Gold in a time consuming wave 4 pennant".

The 13 vs 34 day EMA hasn't made a bullish cross to confirm a bullish wave count.
The RSI an AO has bottomed in beginning of november but failed to make a positive divergens.
The wave 4 pennant will "reset" them both around the zero line and make the positive divergens in the 5th wave down.

Orange line on the chart is showing the PRZ for a 5th wave if is has the same length as wave 1.
Yellow line is measuring the pennants opening and project a target (PRZ).
PRZ is around the 1050/1060 handles
Safe trading ladies and gents!

Short term neutral to bearish
Intermediate bearish to neutral.
Bullish in march

@BLawrenceM

Music at work: www.youtube.com/watch?v=DOkcaSbt...

Just for fun: www.cinefamily.org/f...on-chaplin-in-march/