hi all. the last time i posted this weekly gold chart the macd lines where about to cross to the upside, i was hoping gold would break the $1000 resistance line, but as we all know it was not to be. gold has found support on the .618% fib support line. once again the macd lines are about to cross to the upside. after we had a a-b-c correction from the last 1-5 elliott wave up trend, we now could be in a wave 3 advance with a target of $1030. $1030 is also a 100% fib expansion target using wave c ( swing low) wave 1 (swing high) wave 2 (swing low). but as we all know for this target to be hit the $1000 resistance line has to be broken.
any comments would be great.
have a good one
582
AXM Price at posting:
13.8¢ Sentiment: Buy Disclosure: Held