
See the link below first for the longer term picture:
http://theelliottwavesufer.blogspot.com/2011/07/gold-consolidating-before-one-last.html
The rally from 1,478 is in the fifth an final wave up. We should see 1,620 tested as the minimum, but a more likely target area will be between 1,634 - 1,636, which could be the final top for the entire rally since 1999.
A more bullish count will have the rally since 1,478 as wave i and a decline to 1,575 as wave ii and call for a even more powerful rally in wave iii. I will not/can not dismiss this oppotunity and will not be overly surprised if we suddenly see a moonshot (vertical move) towards 1.700, but time will show.
Thank you so much for your continued fantastic analysis!
ReplyDeleteYour biggest fan Alesund
Hi Alesund
ReplyDeleteThank you very much. It's much appreciated!
Kind regards
EWS