Gold - Market Cycles - 16th February 2023
Gold completes the 20 week nominal peak (at least) and hits our target of 1850 in a relatively standard bearish retrace. The 'beacon' component at 55 days is now due a trough, read on for more detail.
Analysis Summary
Gold peaked from the 20 week component, running at a wavelength of around 140 days from the time frequency analysis below. The excellent component at 55 days is now due a trough so this report mainly focuses on that. The longer components, namely the 18 month (~500 days) and 40 week (~ 300 days) component are pushing up. Our downside target of 1850 was reached and exceeded.