Gold trend possibilities
There is still great uncertainty concerning the future gold trend. Nothing has been decided yet. The corrective wave since January 23rd has been forcing prices to oscillate within a negatively sloping channel. Since July 20th a rising channel appeared and presently prices are at a very critical point.
(Bearish scenario)
Previous wave durations are adopted to predict d & e waves. It might seem strange to have a truncated 3rd in d, but that is not impossible (though unusual & rare). According to this scenario the ending wedge will be broken down soon, leading eventually towards values at/and or below 1000. Second bearish possibility can arise by the d-wave being extended to reach 1200 (provided the 1170 resistance is overcome), and afterwards enter the final e-wave.
(Bullish scenario)
Prices continue along the rising channel and at some point above it.
(Bearish scenario)
Previous wave durations are adopted to predict d & e waves. It might seem strange to have a truncated 3rd in d, but that is not impossible (though unusual & rare). According to this scenario the ending wedge will be broken down soon, leading eventually towards values at/and or below 1000. Second bearish possibility can arise by the d-wave being extended to reach 1200 (provided the 1170 resistance is overcome), and afterwards enter the final e-wave.
(Bullish scenario)
Prices continue along the rising channel and at some point above it.
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