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Monday, January 13, 2014

Gold - Look for a break above 1,267.84 confirming wave c of the triangle devloping.

(Please click at the chart to see it better)
Gold:
 
I'm still looking for a break above resistance at 1,267.84, which will confirm a continuation higher in wave C of the possible wave four triangle. However, we have to remember, that both wave a and b has been simple zig-zag corrections and one of the legs in a triangle should be a complex wave, therefore be aware of the possibility of a complex wave c unfolding. 
 

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