Geometry of Gold: Tomorrow Could Be The Day

On December 8 I shared the scenario for gold to advance to 2400. From the candles perspective the scenario is still in play. For the bulls to finally flip the odds on their side, they must close tomorrow above 1875.00. If they do, a path to at least 2400 clears up. If they don’t, the odds will continue to be on the bears side with a possibility to find a lower low in the correction that lasts since the beginning of August. The perspective paths are on the Short Term chart.

Bullish Perspective:
1. Wave (i) target – 2050-2075. Timing – Jan-Feb.
2. Wave 5 target – 2400 (see Long Term chart – flag)
3. Channel – very preliminary.

Bearish Perspective:
1. Wave (A) – zigzag
B = 0.5 x A, C = 0.786 x A
2. Wave (B) – zigzag
B = 0.5 x A, C = 0.786 x A
(B) = 0.382 x (A)
(A)-(B)-(C) – Double Zigzag
(C) – Length – 0.786 x (A)
(C) – Target – 1650
(C) – Structure – similar to wave C of (A) or a straight motive wave.

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