Gold is getting ready to make a longer term move higher and breakout of it 5 year correction period.
On the weekly chart of GLD the ETF that tracks the Precious meatal after identifying an A-B-C purple correction from the all time highs in September 09 The wave count that I'm tracking starting from the purple C in December 15 is a 1st purple impulse wave that ended on July 16 From there a correction purple 2end wave that retraced 76.4% of the purple 1st wave. Gold looks to be in a longer term purple 3erd wave higher. Also to note is that a trend line from the highs of Sep 09 was broking and today (Aug 28) Gold just took out the highs of the year 123 (1,295.46 - 1,300 OZ) which was key Resistance.
Note:
On the weekly chart of GLD the ETF that tracks the Precious meatal after identifying an A-B-C purple correction from the all time highs in September 09 The wave count that I'm tracking starting from the purple C in December 15 is a 1st purple impulse wave that ended on July 16 From there a correction purple 2end wave that retraced 76.4% of the purple 1st wave. Gold looks to be in a longer term purple 3erd wave higher. Also to note is that a trend line from the highs of Sep 09 was broking and today (Aug 28) Gold just took out the highs of the year 123 (1,295.46 - 1,300 OZ) which was key Resistance.
Note:
- Medium Term Target @131.00 (1,374.50 OZ) Highs of 2016
- Tracking price in a blue wave 3 of a long term purple 3erd wave
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.