Gold Weekly Chart Review

One of my previous gold and silver chart update I still had it as a “B” wave top. With this wave count, I switched back to a 4th diagonal 4th wave rally.  The 4th wave dipped into wave 1 in Intermediate degree, but silver was far from it which makes it fit far better as a 4th wave still in effect.

Does gold have to crash below $1050? Not really but it sure can produce a wild double bottom. Either way, another zigzag could form but it could be an ugly one.

This 4th wave pushes time of the “A” wave in Primary degree into the future a few years, and we could expect a great bear market rally ride during solar cycle $25.

Hits: 39

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