Gold: Hurst Cycles - 7th July 2022
The 40 week nominal low is breached early, calling into question the longer term phasing. We look at the Hurstonian strategy for trading Gold despite the uncertainties
In our last report into Gold during late May we speculated as to the position of the 40 week component. The current placement on the 16th of May is entirely possible but presents a bearish picture going forward for the much sought after metal. An alternative phasing shifts the analysis back one 20 week component and this is shown below in the long term phasing analysis. Both are valid analysis. They do little to alter the longer term picture, which anticipates an 18 month nominal low later in the year/early 2023.
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