Gold and Crude Oil

It might be an very early call, but I do think that we have seen the top (Major top) in Gold at 1,681.67. We do need more confimation to be more certain, but a break below 1,599.30 would add a great deal of confidence to this count, while a break below 1,581 would confirm the top for a decline back to important support at 1.478.
Short term resistance in the 1,665 - 1,667 area should ideally protect the upside, a break above 1,667 will weaken the odds for my top call, but as we are in wave (ii) we must allow for a move back to 1,681.67 and the count will still be valid, but the a single pip above will invalidated the bearish count all together.


Crude Oil has behaved just as expected when the break below the neckline at 91.60 became a reality. Short term I'm looking for a move to the lower Andrew Pitchfork line at 77.00

Looking at the priceaction of the last few days, there should be no doubt, that we are in purple wave iii of red wave (iii) down. Ideally we should see some support near 82.77 causing some sideways consolidation before the next decline towards 77.00.