Gold.... a new Dawn or just another Sunset ??

2022年11月5日

An update of my October 14th note.

Two Harmonic patterns still remain in force after recent challenges. (ABCD and Crab)

Possible triple bottom in place around the $1620 area.

We have effectively reached the first ABCD target.

An arc has been added to give context and show support levels

I should expect some retreat from Fridays $50+ rise, $1670 remains critical support for longer term appreciation.

Supply resistance levels are $1680 and $1732.

Miners should lag as their margins are under pressure and I expect year-end tax selling. But pay attention to the HUI, GDX and GDXJ.

Jury is till out if this is a major reversal. If it is the there is no need for FOMO.

Stay cautious and nibble.

As always not investment advice and DYODD

Good trading.

S.

2022年11月8日

註釋

My update...

2022年11月11日

註釋

A further update...on plan...probable pause

2022年11月11日

註釋

another update...

2022年11月15日

註釋

So we are at the bottom of the next resistance zone after hitting Crab target 1.
The top of the zone is about 1807 .I expect REAL resistance here.

2022年11月18日

註釋

No surprise here....

2022年11月21日

註釋

An update. Does old resistance become new support ?? Looks like a one month timeframe on cycle bottoms.

2022年11月29日

註釋

Gold stopped at 1785 area (resistance 3). Probably Powell speech this week will provide some volatility between resistance 2 and resistance 3. Momentum is a negative.