Gold Yearly Cycle Low
Gold’s most recent short term Trading Cycle just failed on day 25 (i.e. made a lower low than the last TC Low in early Oct) so we should now expect a move into the Yearly Cycle Low over the next 2-6 days.
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Gold Yearly Cycle Low — 1 Comment
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We are in the timing band to form an ICL.
F610 from the 17 Mar 2015 DCL and F144 calendar days from BREXIT 1/2 cycle low gives us 15-16 Nov and that is supported by some short term Fibonacci triangulation from the 07 Oct low to 02 Nov high to 15 Nov(?) ICL
The Miners (GDX) are being hammered and W%R(21) touched -100 today and therefore may bounce marginally before making a “double bottom” after 4-5 trading days (very common with this indicator).