A preliminary projection for this 13 week cycle down phase points lower, but that may not be bad news.
Most 13 week cycle indicators have shifted to the sell side. Both the 13 week and 9-12 month cycle projections have been reached. Here’s what to look for.
The rally stalled last week and it appears that the 2 short term cycles are in sideways down phases. There’s a critical resistance level that must be surpassed for the rally to reach current projections.
Gold continues to hold above resistance in the current pause, while the miners have broken out yet again in what looks like an increasingly powerful and long lasting bull market.
Gold has yet to break resistance but a new 13 week cycle projection suggests that it will. This is a bulletin to update Monday’s report.
Gold is barely holding above the trendline at the top of the broadening, or megaphone, pattern at 1327.
Gold has broken out of a broadening pattern on news of the BREXIT. It must hold certain levels to maintain this breakout. This is a bulletin to update Monday’s weekly report.
Upside appears limited for the intermediate term. Here’s why.
Gold has broken out through the intermediate term high but it still faces trend resistance. This is a bulletin to update the weekly report posted Monday, June 13.
The 4 week cycle projection has been reached, with a high overdue on that cycle, but short term cycle indicators remain strong and the 6-7 week cycle projection points to 1325.