Sunday, 22 November 2015

Gold testing two trend line supports on weekly, showing 5 waves up on hourly

Weekly chart. Given the close proximity to trend line support, any rally above last week's high would be a bullish edge at this timeframe.

Hourly chart next. 5 waves up, in the form of an expanding diagonal. The first evidence that the larger trend may have turned up. From little things, big things grow, sometimes. Let's see.