Gold 2015-2019 Review

Originally the 2015 bottom was wave 3 in Intermediate degree but that started to take far to long, so I looked for a higher degree position.

I have been using the (A) wave bottom for 3-4 months and at this time don’t see any reason to change it.

At this time the present bullish phase is what I call a “C” wave bull market, which still has a long way to go. Diagonal wave structures can develop at any time, and I still need to see some sort of Minor degree wave 3-4-5 structure to play out.

EWI (Elliott Wave International) has the same bottom for December 2015 as I do so they are bullish as well.

Yes, we should get corrections as nothing travels in a straight line for very long. The last thing I want to do is turn bearish on gold too early!

Gold was well above $1500 at one point and I’m sure $1600 is within reach this year.  August 15, 2019, will be the next full moon which can trigger surprise reversals.

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