We expect higher prices in gold next week. We are now rallying in wave ^iii^, which could he heading to our next projected endpoint of: ^iii^ = 4.236^i^ = 2936.80! Active Positions: Long, with puts as stops!
A catalyst could spark major gold-futures selling which could quickly snowball, slamming gold into a larger pullback. But this doesn’t guarantee an imminent gold selloff.
I call the market stuck between $2570 down to this support near the $2500 level, caught in there, and we now have a pattern of lower highs and higher lows.
