Gold is in a topping process. Having broken below 1,813 we are now close to testing the next important short term support at 1,719.46, which I would suspect will hold the first test for a correction back to the 1,837 - 1,846 area. However I directe break below 1,719.49 will indicate, that gold is weaker than first anticipated.
Crude oil should be ready for the next decline towards 75.36 and the 72 area longer term. A break below 83.62 confirms that purple wave ii of red wave v is done and purple wave iii down to 75.36 is under way. As long as 83.62 stays firm we could see a new go at the 86.21 area, but it shouldn't be more than a short term delay.
Gold is in a topping process. Having broken below 1,813 we are now close to testing the next important short term support at 1,719.46, which I would suspect will hold the first test for a correction back to the 1,837 - 1,846 area. However I directe break below 1,719.49 will indicate, that gold is weaker than first anticipated.
Crude oil should be ready for the next decline towards 75.36 and the 72 area longer term. A break below 83.62 confirms that purple wave ii of red wave v is done and purple wave iii down to 75.36 is under way. As long as 83.62 stays firm we could see a new go at the 86.21 area, but it shouldn't be more than a short term delay.
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