I'll keep this short and sweet. Until spot gold break through that large green area that I put on this Spot gold chart, then it is still possible that we are in wave 4 and not in the start of the 2017 bull run. However, I am not so sure how low it could go being so so late in the cycle. I put up the possibility of a head and shoulders pattern that could develop. Also keep in mind that the Yen has also broken out of it downtrending channel last week. and it ;looks like it pushed up into a minor wave 1. So this gold push is consistant with a minor wave 2 for the Yen. I will post this chart and Jnug.
If gold breaks above that green area then I will change my outlook to very bullish.
If gold breaks above that green area then I will change my outlook to very bullish.
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Yen Chart
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Jnug chart
Stock charts has something going on with it. All my stuff keeps getting deleted. so pay no attention to the arrows right now. only look at the fact that we are getting close again to the end of the cycle for miners which is also about the same time that spot gold cycle should end. unknown how it will play out but I just don't think this is the big continuation breakout that everyone is talking about. Time will tell.
Stock charts has something going on with it. All my stuff keeps getting deleted. so pay no attention to the arrows right now. only look at the fact that we are getting close again to the end of the cycle for miners which is also about the same time that spot gold cycle should end. unknown how it will play out but I just don't think this is the big continuation breakout that everyone is talking about. Time will tell.