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Gold...

Yesterday gold did violate our counts and rallied. The score is 🏉 2:1, Gold is leading.


Now we are at the last stronghold - the orange wxy interpretation that we posted in the previous update. This was our worse case considering our bearish bias. Still, we have little doubt that the gold is bearish. We will further manage our confirmation bias by disclaimers for your awareness if we hold positions in the assets that are the subject of our analytics.


What adds to the frustration is that stock declined yesterday and gold rallied (which we saw the other way around 😖). Now the outlook is that stocks may bounce (see separate update) and gold turns down. Let's see if this negative correlation can work in our favour from now on.


Gold, 4-hour chart

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