Gold Intraday Crash Update.

Since the October peak gold has been in another choppy world that defies any normal clean impulse. Except here and there, we can get extremely small impulse runs. Gold has not cleared that October 4th low so any bullish phase at this time would be a diagonal sequence. If the diagonal run is true, then the present decline, “Must Not” fall below my wave 2 position. Not by any amount!  When or if it does break much lower than my wave 2 in Submicro degree, it should trigger another review process.

Silver looks a bit better as a bullish move, but it also took a hit along with gold. If the majority thing that stocks are still on a path to the moon, then yes gold will not be looking so much as a safe-haven asset class.  That can all change very quickly as we just can’t trust the emotional crowd playing this game.