Tuesday, 25 October 2016


 Hi Traders,

Gold (now at $1265.14) could rally up to $1278-81 or $1301-04 but only to resume the retracement down to the area $1191-1208 (being $1210.62 the theoretical value). That support would mark the beginning of the new $300 uptrend to $1521-31.


The monthly chart shows that Gold is still performing wave 2 down (the retracement) to $1208-1191. Besides, the area $1142-31 cannot be ruled out from the likely targets.

The weekly and daily charts reveal all the targets:  $1278-81, $1301-04, $1131-42 as well the final targets at $1521-31

The 4-hour chart shows more in detail that wave 8 is still unfolding, given the targets at $1278-81 and $1301-04.

Finally the 1-hour chart is even more explicit in revealing an hourly target at $1156-52 before the rally to $1278-81 and $1301-04, 

Monthly chart - click to enlarge

Weekly chart - click to enlarge

Daily chart - click to enlarge

4-hour chart - click to enlarge

1-hour chart - click to enlarge

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