I have seen this many times bevor in many timeframes. This "pattern" is like a loading battery. The question is, in which direction will it unload it's energy? This is a weekly chart, and therefore it has a important meaning to me...really observing this one very close! Armstrong says, that the USD will rise in a super crazy height. This could be the start -...
According to Martin Armstrong, for the best-case gold price target of $5k+ per ounce we would be best to see a breakdown below the current long-term support to see $1045 to form a slingshot move. Providing we see a topping in the near-term for current resistance to hold, it would be looking bearish for perhaps 10 months to fall back below support.
Wheat appears to be nearing the completion of a major ascending wedge that spans 4-5 years. Best way to take advantage of this would be a wide entry with a safe stop once a bottoming pattern appears on the daily/weekly. My guess is we won't see a bottom until late 2016 or maybe early 2017. Martin Armstrong has posted about the global *cooling* (not...