Gold Crash From A Daily Chart Perspective

That choppy November rally sure looks like it can fit into a running “C” wave.  Gold is on the borderline where an expanded bottom will not work anymore. Presently we do have a small spike to the downside that formed, but that may only bring us another correction. Gold could dip closer to $1220 before it stops, but that is not written in stone.

At this time gold is leaving that $1375 price peak in the dust, but longer term gold will eventually exceed that $1375 price level.

As I post gold is still crashing as it’s at $1246 already. I’m sure the gold bears just love it for now, but eventually they will get into a bear trap, when this downward trend starts to end.

 

Hits: 3

Share this...
Email this to someone
email
Print this page
Print