Gold Correction Confirmed, May be a short run

As outlined in my previous chart, the Rising Wedge appears to have completed and a (likely short-term) correction is occurring. It's too early to determine the range and duration of the correction, but it would worth anticipating a bounce around the mid $1,600's followed by either immediate rising demand and continuation of the bull run. However, because of the prior bull-run duration, price range (ATH) significance and necessity for value consolidation, I'd anticipate this event representing Macro demand saturation and may lead to a gradual Gold Market decline. Either outcome, if you weren't already short at $1,750 it may be worth waiting until the bounce before determining your position. Good Luck guys

Yorum:

Gold Market decline in the near-term*