Saturday, 8 December 2018

$Gold

This hourly $Gold chart may yet turn out to be a bear trend correction BUT it is shown here to possess a credible bullish pattern that is potentially about one-third along the Minor 3 wave, within Intermediate (1) of Primary [3]
However, if Primary [3] is with momentum similar to Primary [1] then the order can be one higher, i.e. one-third along Intermediate (3) of Primary [3].
The prospect for a launch from here is produced by the view that a fractal series of 1-2 waves has been recently created.
The most significant wave counts are supported by the hourly RSI divergence turn indicators along with a popular Fib ratio .


The daily chart from the end of the resources Cycle-degree correction at II shows the 3-year period since then. Primary [1] was sharp with small 1-2 Intermediate waves. In contrast, Primary [2] has been a large zigzag.



Sanity check: 

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