Respect Nature

Wednesday, August 13, 2014

Gold

Gold shorter cycles remain bearish below 1345 peak. First leg lower from 1345 i.e. wave A completed at 1291 Wave B is taking the form of FLAT and while above 1302, expected to make another high toward 1327 before metal turns lower. Below 1302 would suggest wave B has completed already at 1323. Metal needs to resume the decline and break the pivot at 1280 after completion of cycle from 1280 low. Otherwise, don’t rule out the possibility of a move higher toward equal legs (1385)

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