Hi
@martis - gold never yet made it to USD 1,400, despite many "imminent" predictions of same around end of June (almost 3 months ago)....post-Brexit rally.
Now, you're shooting for $1,575 in Post
19231247?
Certainly I'm hoping for that (who isn't?), but dare not predict when.
Let's see if the textbook setup is right re the falling wedge. Do you have a timeframe? Your chart indicates early-Nov. 2016 (US General Elections on Nov 8, of course, and may well have a major impact...a Trump victory for example - co-incidence, or precision Chart Patter timing?
Is this prediction based on the falling wedge (which is the explicit Chart annotation), or a surprise political outcome (or both)?
This is a 20% rally in less than 2 months back to 1/4/2013...with a lot of overhead supply to penetrate.
Pls. see Chart below.
Separately, I agree that CBA is in perilous waters and watch it very carefully, but it managed a Weekly close over $70 this week ($72.24 )
Perhaps it was a stop sweep at thrice tested Chart Support (going back to 2013)?
It's unquestionably one I also watch very carefully, for the health of the AUS financial system (and the entire ASX).
Thanks
XAUUSD - WEEKLY