Looks that way to me too. I have been using Elliot Wave patterns to try to predict where gold is going:
1. the first major wave up was $1080 to $1290 from Jan to Mar
2. second major wave down finished at $1200 May/June
3. now we are in the middle of the 3rd major. It should be longer than the fist wave-up, so somewhere in the mid $1400 over the next few weeks/months.
Nothing ever moves in a straight line and down moves are just as important as the up moves. The trend though is definitely up at the moment.
Looks that way to me too. I have been using Elliot Wave patterns...
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