Gold Breaks Higher

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Gold formed a swing low and broke above the declining trend line to confirm today as day 3 of a new daily cycle.

gld

Gold also confirmed today that it just left behind a 34 day, right translated daily cycle. Therefore our cyclical expectation is to see gold break above the previous daily cycle high of 1169.80.

The dollar appears to be ready to cooperate.

$$$

The dollar is being squeezed by the 10 day MA & the 200 day MA. The dollar is on week 18 of a weekly cycle that has already failed, therefore we expect a bearish resolution with the dollar breaking lower into its final intermediate cycle decline. And a bearish break for the dollar should be bullish for gold.

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2 thoughts on “Gold Breaks Higher

  1. Likes, I know you are expecting gold to get above 1169.80, but are you expecting a left translated or right translated DC #2 for gold? TIA

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