Sunday, November 7, 2010

Gold to 1600?!

It's been a while since i posted a count for Gold (Xau/Usd). It looks like an ending diagonal might be playing out, as hard as it is to believe, gold might actually go as high as 1600$. All rules apply for the expanding diagonal, wave 5 > 3 > 1, wave 4 and 2 overlap and wave 4 > 2. All waves subdivide as corrective waves. Only thing left to do is spike through the 1-3 trendline. Notice how in wave 5, all waves up are almost equal but so are the waves down, big waves up small waves down. Price should do one more small wave down and one more big wave up.

Geplaatst door op
Labels:

2 comments:

  1. AlesundNovember 7, 2010 at 7:05 PM

    Thanks for your analysis. It all comes down to the USD. If the USD rallies hard or if markets tank, then right now should be an important intermediate term or even long term top.

    ReplyDelete
  2. Jeremy DemunterNovember 8, 2010 at 1:07 AM

    Hi Alesund,

    Thanks for your comment. I think markets will tank a bit now, but i don't think this is the big turn yet. I could be wrong ofcourse, we'll see.

    Good luck.

    Friendly greetings,
    Jeremy

    ReplyDelete

Subscribe to: Post Comments (Atom)