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.
Hello David thank you for the update. In case the longer component became dominant (around 75 days) instead of the 56 days, and price kept drifting down towards the 1780 area, would the 1900-1950 target still be intact or should we redefine it in terms of reduced amplitude given the increased bearishness displayed? Have a good day. Alessandro
GMorning D. Re Uranium from 1/10 update: We look at the evidence for the incoming 18 month nominal low losing amplitude as the zone progresses. This amplitude will return with force when the 18 month component makes it’s low,looking like mid February and should be an excellent chance to exploit a bullish part of the anticipated sideways (neutral) underlying trend for a few months…looking like mid February…Assuming that the 18 month nominal low is to come a short into that low is viable for the move into mid February. Subsequent to that the 18 month nominal low will be a strong bullish move for a few months.
Can you update subscribers David, re strong bullish move for a few months there’s been a good deal of positive fundamentals recently. Thanks David
Hello David thank you for the update. In case the longer component became dominant (around 75 days) instead of the 56 days, and price kept drifting down towards the 1780 area, would the 1900-1950 target still be intact or should we redefine it in terms of reduced amplitude given the increased bearishness displayed? Have a good day. Alessandro
GMorning D. Re Uranium from 1/10 update: We look at the evidence for the incoming 18 month nominal low losing amplitude as the zone progresses. This amplitude will return with force when the 18 month component makes it’s low,looking like mid February and should be an excellent chance to exploit a bullish part of the anticipated sideways (neutral) underlying trend for a few months…looking like mid February…Assuming that the 18 month nominal low is to come a short into that low is viable for the move into mid February. Subsequent to that the 18 month nominal low will be a strong bullish move for a few months.
Can you update subscribers David, re strong bullish move for a few months there’s been a good deal of positive fundamentals recently. Thanks David