Just about everybody and his brother thinks we're in a wave 4 triangle, and we may be. But when you start digging a little deeper into this triangle pattern there are more than a few problems. I won't get into them, but there are enough where I'vve been convinced this may look like a triangle, But I don't think it is. Here's another scenario, that being, an ABC...
This is a bearish perspective on gold. Of note is that we've hit the .786 zone based on the drop from the 2011 high to the late Dec. '15 low. Things frequently happen at .786.
