Gold ready to rally???
Gold hanging in there. Looks possible that gold may have finished a zig zag with a Wave C = 0.786*Wave A. Note that the RSI is just about in the oversold just like it did several months back. That level of oversold is just about right for a bull market. It could also run a bit more sideways to make a more convention descending wedge pattern. I also think the S&P is going to make a small drop this week before a medium rally corrective Wave B. If that is true, that would give a nice up, down, then break out for gold, just like a standard falling wedge.
If gold and the dollar like to be inverse of each other, then my DXY chart looks like the dollar maybe peaking and read for a big move down.
Gold since 2011
If gold and the dollar like to be inverse of each other, then my DXY chart looks like the dollar maybe peaking and read for a big move down.
Gold since 2011
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