NWT_jec

NWT_jec

As i am seeing in the gold right now is a short term bearish for the week going for the C wave of the running flat wave 2 of the larger wave 5 of wave 3. After an Impulsive move up as wave 1 of wave 5, the market printed a sideways move contained in a channel. meaning that the wave 2 going for an impulsive wave 3 is not yet finished. looking at the channel, we are...

NWT_jec

Based on price action, gold is at an area of value where trendline resistance and SnR flip zone serve as roadblock. If it continue to get rejected at this level maybe we will see a prolonged correction or maybe a partner leg for the impulse down.

NWT_jec

After a possible top of 4h uptrend, price is trying to correct its move. This is a healthy climb for us to shoot back to new all time high. For short term correction move, i expect to see another leg down before continuing to the upside.