Gold

Gold, in the monthly frame, is in the process of correcting the prior advance in five Primary waves to the September 2011 peak of 1923. This correction will ultimately amount to a partial retracement of the impulsive advance. Since the peak, prices have traced out an impulsive sequence down, that remains in its late stages.

The overall decline so far, could be still-developing Primary wave A, which is only initial part of a three-wave corrective sequence of one larger degree, that is not yet complete.

Gold - Monthly

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2 thoughts on “Gold

  1. Pieter van Leeuwen

    EC … thanks for your continuing chart posting efforts.

    I have a LT EW chart for gold, that has the 2001-11 advance as merely the 5th wave in a higher degree III rd wave.

    So we are now in wave IV of that higher degree. And wave A within that IV.

    The III rd wave I speak of began in 1970. 3 of III topped in 1980.

    So the ABC that I see is of higher degree (than yours) and would trace back to the 4 of lesser degree … the range forged between 1980 and 2000.

    250 to 500. Obviously, that would not come until we see the C wave down. And it would all take longer too.

    Cheers

    Pieter

    Reply

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