Solar Cycle 24 June 2019 Update With A Solar Cycle 25 Sunspot!

This is the latest June update which had 34 days with no sunspot activity. The interesting thing today was the new sunspot below.

Spaceweather.com

AR2744 shows the polarity as (+/-) which they say has had  5-6 sunspots of solar cycle 25 already but they were weak and scattered.

Sunspots belonging to solar cycle 24 will still come and they will have their polarity reversed (-/+)  Lots of mixing will occur as this can still drag on for a year or so.

Don’t get excited that one single sunspot for solar cycle 25 has arrived, as we need many more.

This sunspot is on the southern part of the sun and the important thing to remember or know about is how the polarity of the sunspot is lined up. Solar Cycle 25  lines up (+/-) while solar cycle 24 is still (-/+). At least in the southern part of the sun.

The northern part of the sun at about 30-degree latitude may also produce new solar cycle 25 sunspots and we have to check if the northern sunspots reverse their polarity again.

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Gold Resistance at $1800?

I changed my wave positions and basically, I’m now looking for a 3-3-5 wave count and if the (A) bottom is real,  then another leg up would certainly happen.

I will only run one wave count in a chart with no other alternates as otherwise, it’s impossible to find our mistakes. Majority of my wave counts are drawn on a printout first, so you don’t want to carry the same mistake to a new chart!

We may still get some corrective action but if this bullish phase is not finished then the gold bulls will shred the early gold bears again.

The big question is if this is just part of a bear rally or the start of a new true bull market!? A “C” wave bullish phase is what we could be looking at and it may last out the summer.

Wide open spaces to $1600 but then $1800 is going to give gold some very stiff resistance.

 

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