Gold price analysis: End of correction near!

25 thg 9, 2016

Gold has been in a very strong bull trend since the start of 2016. I have zero reason to believe this trend is changing any time soon. We could be looking at the end of an ABCDE correction; which means the final E leg is already behind us. In that case the E leg ended where the C leg ended in this technical picture. However, if gold keeps going sideways to slightly down (to around 1.320) for the coming two weeks this will likely constitute the E leg.

Please note that 1.300 is a very critical support level and should not be broken.