Just an update based on the way Gold is progressing. I believe we are reaching the end of the second leg of a longer term correction. In the short term, I'm expecting her to continue an exhaustive push to the upside until around the $1900 area, which may take until the end of this year. This seems to line up with my expectation for the DXY to go to 95 in the same time range. At that stage, I will monitor closely for Sell entries as it will be at the previous ATH. I would expect much turbulence at this price and can kick start a third leg down towards previous low area to complete a classic Flat pattern. I will also monitor her behaviour at that point to see if the correction has indeed ended and we started an impulse from the $1040 price back in 2015.
评论:
CORRECTION: expectation is for DXY to go to 88 region, not 95, by the time Gold gets to $1900 area.
