With the strong c wave up move in gold, prices are now up against overhead resistance from $1350 to $1375. As a result of the authoritative move up in price Friday, the corrective (a) wave down should be done, but Gold should continue to move sideways in some sort of corrective pattern as it works its way against this overhead resistance, and eventually move throughs it this Spring to complete the much larger b-wave top.
Trade closed: target reached
Technically, Wave - (e) is now complete.The price targets and timing on this trade worked out pretty good. Good time to take profits and tighten up ones stops.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.