8 replies to this topic

[pisces]

Does this pullback look about done or do we need another $ 10.00 down ? it looks like there is better support just below 1180. 

[dougie]

Well there is your answer

[senorBS]

gold overnight pretty much hit its 38% retracement, so it could be ending, lets see if that area holds

 

Senor

[pisces]

gold overnight pretty much hit its 38% retracement, so it could be ending, lets see if that area holds

 

Senor

 

bought a small a small amount of GDX this AM....

[Russ]

wave 3 underway?

 

[pisces]

unfortunately i am not smart enough to know that...

[Geomean]

Gold, GLD, GDX, & GDXJ and @SI all hit a variety of price targets this am and @GC appeared to have completed a 5 wave C wave of an a-b-c retrace leg.  While it could just be a bounce in a longer minor 2 corrective wave, it could also be the end of minor Wave 2 within an intermediate wave 3 or C that  follows the end of Intermediate Wave 2 in @GC in Dec. 2016.  My count is that we've been in a compound WXY corrective wave since what I count as the top of Minor Wave 1 on Jan 12 in @GC.  There was a TDSEQ 13 buy signal @ the 2am CST hourly bar at numerous key fib retracements and extensions.

Edited by Geomean, 27 January 2017 - 03:16 PM.

[Russ]

Gold, GLD, GDX, & GDXJ and @SI all hit a variety of price targets this am and @GC appeared to have completed a 5 wave C wave of an a-b-c retrace leg.  While it could just be a bounce in a longer minor 2 corrective wave, it could also be the end of minor Wave 2 within an intermediate wave 3 or C that  follows the end of Intermediate Wave 2 in @GC in Dec. 2016.  My count is that we've been in a compound WXY corrective wave since what I count as the top of Minor Wave 1 on Jan 12 in @GC.  There was a TDSEQ 13 buy signal @ the 2am CST hourly bar at numerous key fib retracements and extensions.

 That all sounds assuring for the bulls, thanks.  My XAU chart created last summer showed the low in mid dec perfectly, it is now pointing at early March for the end of this rally, so then some correction into spring is most likely. This recent weakness just strengthened the signal for a high in early march.

[pisces]

Does this pullback look about done or do we need another $ 10.00 down ? it looks like there is better support just below 1180. 

 

Looks like we have our answer  now we watch to  see if it acts like a  THIRD Wave..