Tuesday, 6 June 2017


Hi Traders,

Gold (now at 1292.3) is very close to the target at $1.301-$1308 where it could  reverse to  $1259-$1249 or lower.


The monthly, weekly and daily charts shows that Gold is unfolding a new pattern that look similar to a "retracement-wave-4", which is part of the downtrend started in 2011. 

This type of wave is supposed to bring the yellow metal down to the area $1195-$1206. Subsequently, Gold would rally to $1532 - or higher - in 5 waves.

Monthly Chart. Click to enlarge

Weekly Chart. Click to enlarge

Daily Chart. Click to enlarge

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