Aug 28, 2015

Update

We have now this wave up which should be wave 4.... but much stronger than expected. We should see a test of the low, but I am asking myself with a lower low or higher low???

Day 25 GDXJ is close to daily cycle low. Ideally we should see one more push below the last low to finish the move.

UPDATE - The problem is USD hit it's minimum target lower with the crazy moves on Monday DXY 92 and and EURUSD 1,17. Either wave 4 is over and wave 5 higher begins(very bad for precious metals) or we can hope the zigzag is part of a bigger corrective move so the PM could rally in the next 1-2 months. Anyway short term I think there will be one more leg lower to EURUSD 1.10 so be cautious and patient.

3 comments:

  1. Thank you for that! Grazie per quello.

    ReplyDelete
  2. Hello, could you please update Dax chart? Thanks in advance.

    ReplyDelete
    Replies
    1. See the new post with the DAX charts

      Delete