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Gold Can Break To A New High Of 2016


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September 07 2016

An updated chart on Gold shows a deep three wave contra-trend move; an A)-B)-C) set-back that now clearly appears finished after another bullish push to around 1350 level in the last 24 hours. Whole leg up from 1302 low is very strong and much sharper than any bearish leg within a pullback from 1375 highs. As such, we think that money is on the bullish side now and that market will continue even higher after any short-term retracement which should represent a minor correction within uptrend. Next solid set-back will be a black wave 4 that may show up from around 1356-1364 short-term resistance levels.


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