Tuesday, April 5, 2016

OUTLOOK FOR GOLD

INTRADAY CHART
5th April:

The Wave x came in just above the Double Top trough and has extended losses that should see losses to the 198.4% projection in Wave iii at 1,199.06. This should see the Wave iv between 14.6%-23.6% and followed by the Wave v to complete the third Wave a. 


Thus, from there we require a correction in Wave b and follow-through in Wave c. It's difficult to judge where this will stall but as this develops watch for bullish reversal indications. From this final Wave c - to form Wave B - we should see the larger uptrend resume.

Good trading
Ian Copsey

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