My oscillator is forecasting Xau to rally into late July, in case you did not see that post. Russ
thanks for pointing out your blogspot site. There is so much to read on the internet ....
But I bookmarked it now.
I'd say, by and large, we agree on the outlook for Gold.
My daily cycle has not yet bottomed. Right now Gold would need to go down to the
1245 area for that to happen, but I doubt that it will.
The weekly, monthly and yearly cycles are probably pulling too much to the upside.
We need to break the 1262/63 area decisively to break out to the upside. Otherwise it will be more sideways
until the daily cycle, which is dynamic, not static gets to the current level.
Hi Gis, Today's action is looking like an 'M' top in gold especially on the 5 hour chart... https://www.investing.com/commodities/gold butit should just be some consolidation which will resolve into the late July or early August high for xau etc. The xau signal for a late high july is still intact today, it is strongly confirmed and I do not expect it to be unconfirmed. Russ