Saturday, 23 April 2016

Gold daily & weekly charts, trend is now up but ST correction underway

Daily chart shows 5 waves up, which indicates that Gold's trend is now up. The correction from the wave 5 peak could now be entering its final wave lower.

Weekly chart illustrates my guesstimate of Gold's path in coming months, based on my reading of wave structure. Obviously whether or not Gold can beat nearby trend line resistance is the key to whether this scenario plays out. Let's see.