Currently still in "Bullish Mode". Appears to me the last move up was a "Leading Diagonal", for a Minor "Wave 1". Looking now for a Minor "Wave 2". Expecting a complex correction that simulates an "Expanded Flat". If correct we should see our strongest move up yet, with an Extended "Wave 3". Details on Chart.
Still Bullish, but believe there is more to the downside, before we push Upwards. After further analyisis believe we are looking at the 1293.xx area before we progress upwards. Apologize for first Post, but believe it is incorrect.
Appears to me the "Wave 2" could be complete with more to the upside. Looks like a complex correction with a strong "C" wave to end it. If correct we should see a "Violent" move upwards. Details on Chart.
Believe we are still "Bullish" in Gold for now. A break of the bullish trendline would deny this current action. In a wave 2 of a Wave 3 (extended wave) Appears to be a "Complex correction" Looking for a downwards move to the 1282.xx area before we progress Upwards. If this analysis is correct we should get a Strong 3rd wave up.
Looks to me, that we are currently in a correction downwards. Looking at the 1276.00 to 1278.00 area to stop this. If this area does stop this correction, we should get our strongest move up yet.("Wave 3 of 3") The Yellow solid trendline cannot be disturbed. If it is all this analysis is incorrect.
We have just seen a strong leg up. Both the 2 & 4 wave were running corrections. What I am trying to say is, it was really "Strong". Believe it is time for a Correction. The 1277.00 area is where the last Minor 4th wave ended. All the other 2 waves in Gold have ended at a Minor "4 Wave". Am speculating this will happen again. Am also speculating we are shortly...
This last move up is a text book 5 wave (Is this a "1" wave or a "C" wave ?) Assuming it is a Minor 1 wave, we are now due for a correction. For this Bull to continue we cannot break (Even touch) this current "Bullish trendline". If we are looking at a minor wave 2 the 1258.00 to 1259.00 area is an excellent spot.
I am still "Bullish" on Gold until proven otherwise. My "Line in the Sand" is a move below 1248.10 (Analysis Incorrect) Still believe we are in a complex correction for a "Wave 2". Will see if the 1252.00 area holds.
Still looking for a move down. Looks like that finally will happen. A test of the 1 wave for Gold @ the 1258.90 area would be an absolutely great spot. This I still believe is a "Running Correction" for the wave 2 (Expanded Flat). The "B" wave went slightly higher than expected but signifies "Bullish Strength". Will have to wait & see if this area holds but...
Currently believe we are in the "B wave" of a "Running Correction" for "Wave 2". Would really like to see a move down now. A test of this 1st move up is crucial. Looking at the 1252 to 1256 area. If this area holds & we break the top of the B wave price could move quite significantly. If correct the 3rd wave should be extended.
Looks to me like it is quite "Bullish". Last move up appears to be a "B" wave (Lower volume but testing a new high) If this "B" wave holds looking for a weak "C" wave down. This would be an "Expanded Flat". The 1249.00 is a good area. Other wave "2"'s have hit in this area as well.
Still believe we are in a "Wave 1" up for Gold (An expanding leading diagonal). Looks to me that it will test the "Major wave 1" probably exceeding it. Have a target at the 1269.60 area. After that all good things must come to an end, with a retracement downwards (For "Wave 2"). If this "Wave 2" could perhaps just test the "Long term Bearish trendline" and find...
Currently believe we have 1 more last push up (5th wave) in Gold before there is a correction downwards. It appears to be a Leading "Expanding Diagonal" for Wave 1. Would like to see just a touch of the 1-3 trendline and then correct downwards for a major Wave 2. 1253.00 area is a good place for Wave 1 to end. The 1235.00 area is a good place for Wave 2.