Quick Gold Weekly Chart Review

At $1550 gold is running into resistance but how much resistance remains to be seen.  At the small intraday scale, gold seems to be correcting which means gold still has room to move up, at least in the short term.

Since the 2015 bottom gold has now moved $500 and is about $370 away from breaking a new record high. ($1920)

Silver has also gone vertical so a correction is due in silver as well.  I’m looking for a wave 3-4 to develop in Minor degree and no amount of little wave counting will make it come any sooner.

Even the two trend lines are suspect as they can be very subjective. At $1800 gold would see resistance increase and I would like to see that 4th wave come and go!

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