Gold is a difficult one this week. The price is in the middle or slightly above a very congested area. The count and previous bearish candles suggest that we can go down in the next few days preparing for a strong rally towards the end of the week.
But it can also just continue rallying. I am holding short and will be flexible to reconsider.
An alternative way to correct for gold could be a wedge or a triangle as indicated below. Silver also supports this view. Anyway, the odds are that I have to stick to my shorts until the count gets clearer within the next few days.
But it can also just continue rallying. I am holding short and will be flexible to reconsider.
An alternative way to correct for gold could be a wedge or a triangle as indicated below. Silver also supports this view. Anyway, the odds are that I have to stick to my shorts until the count gets clearer within the next few days.
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