up today, page-5

from 586 on the gold tread


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