Gold making a nice bounce

Gold made a nice bounce in the last few weeks which, in fact, looks to be in five waves from $1,194. As such, a move must be part of a minimum three wave rise of a higher degree, which means that metals will most likely break to a new high of the year, but after a pullback down in Wave B or Wave 2, which may be underway now, support can be found at $1,220-1,240 area.

First published here: Gold making a nice bounce

No comments:

Post a Comment