Sell the news. Warren Buffett bought GOLD (the miner ticker). Everyone knows this. I'm a fan of GOLD, but, my chart shows a sell the news event occurred, and importantly -- now a drop at resistance (the lower channel line).
notes on the chart very neutral - weird price action the past week not investment advice
comments on the screen. I see many cups, and handle possibilities. -- very Matryoshka-like
I've been watching PMs and their 'Around The Apex' (not my term) moves this year. Also have been noticing some Sine wave type patterns exactly like my auto repair diagnostic tool. Possible Sine #2 and Around The Apex as we reach consolidation and compression.
3 rising valley, Bullish. HOWEVER - awaiting confirmation - see where #3 points.
Using my parabola system and a Fib extension to 1.618 I'm looking at a small sell at 11800ish.
just some TA thoughts....could it really be this easy? I made the Fib .786 yellow...just in case there is some sort of fake out to the upside. EW Wave C (down)...I simply made it lower than A...and stretched out the timeline as, well, it's getting weirder out there..
See Bull 1 and Bull 2 Captions on the chart. I'm awaiting .618 breakout, and confirmation, before I commit to adding to my multi year long.
Something's gotta happen....J Hook, or Sideways Z...'Around the Apex' moves...
bull and bear comments on chart. note indicators below.