Long Gold? Consider This…
As we noted on
Friday, the February Gold Futures
(
GC03G |
Quote |
Chart |
News |
PowerRating) are facing a key Fibonacci price resistance zone, and also now are
getting ready to complete key time and price symmetry levels. Symmetry?
The previous rally
labeled by Swing AB was 36 days and 29 points. As of today this rally of Swing C
to D is at 35 days and 28 points. Let’s see how Gold acts against this symmetry
decision.
Let’s also not
forger that we have four time cycles coming into play from December 17 to
December 19 for a cycle high that would call for a reversal.
If this futures
contract ignores our parameters…then we have to translate this as an extremely
bullish sign for Gold, and should be looking to buy pullbacks into Fibonacci
support. For now, I still have warning flags and of course big time price and
time symmetry decisions to deal with tomorrow.
