Update: 8th April:
Following up on the previous presentation for a compelling completion of Primary wave [4].
Now tracking the progress of Intermediate wave (1) of Primary wave [5] and approaching a prospective double top location for (1). However, with political talk of even more $US Trillions being thrown at the various economic disasters this ride can get very very bumpy.
A period of consolidating consideration is expected to be reflected by Intermediate wave (2) with target 4. However, due to an expected eventual realization that the economic collapse has extremely deep consequences there is a corresponding driver for an ongoing bull trend for gold.
From: 2nd April:
Here is the compelling view that Primary wave [4] holds the price of gold in its grip.
It has [3] = 1.62 [1] and [4] = [2] where [1] - (A) is the extremity of [2].
It also has alternation between the extended [2] and [4].
The internal pattern of [3] has the optional view of a subdivision into two impulsive patterns.
The low of Primary wave [4] aligns with its counterpart of one less order.
From 26th March:
This bullish view of the chart of weekly spot gold modifies the wave count but still sees the recent correction as a mid-wave 3 transition to extension. The first leg of the expected extended Intermediate (3) can be seen either as a 5-wave impulsive without alternation or as an extended arrangement of impulsive patterns.
Whilst the structure of Primary [3] is enlarged, the target for [5] remains in the vicinity of $ 2100.
LINK: Previous XAU/USD Charts ←←←← recommended
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