Monthly Archives: June 2016

Gold

Today’s 8.76 percent rally of Gold may conclude the advance of Intermediate-degree wave (A), which started in early-December. The strong rally day should be the last portion of a Minor-degree impulsive wave 5.

Accordance with this adjusted wave count in daily frame, the following correction in wave (B) will develop soon to a partial retracement level (by technically 50% at 1204$).

Gold - Daily

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Gold

Medium-term Uptrend :

Gold is concluding the week with a strong rally day, today!

The countertrend rally (in a five-wave structure) that started in early-December, should be the first part of processing of correcting up in the Primary wave ((B)). Subsequently, Intermediate wave (A) will be corrected soon in following wave (B) (potentially to the Fibo 0.50 retracement level around 1200$).

Gold - Weekly