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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

4:00 PM EST

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To: #Breeze who wrote (115899)	2/15/2024 1:21:11 PM
From: #Breeze	4 Recommendations Read Replies (1) of 116791

GLD Wave Count Update. I've labeled the high on 12/1 as Wave i. Thereafter a correction ensued. Which I've labeled as a WXY. Wave W was an abc pullback. Wave X was an abc rally. Wave Y unfolded as an abc pullback. I've labeled two scenarios for the Wave c of Wave Y. Typically the Wave c is a five wave pattern. If this is the current scenario, then today's rally is Wave 4 of C to be followed by Wave 5 of C and the correction would be complete. But if the current rally moves above 186.70, then the case could be made that the correction ended yesterday. Why? Because a Wave 4 cannot overlap Wave 1, expect for an ending diagonal. The Wave c is a channel move. Breeze tradingview.com

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