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Gold/Mining/Energy : Gold Price Monitor
GDXJ 124.11-13.6%Jan 30 4:00 PM EST
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From: #Breeze1/30/2026 7:37:57 PM
2 Recommendations

Recommended By
Anchan
roguedolphin

   of 116950
 
Spot Gold Big Picture Wave Count on a Monthly Logarithmic Chart. It appears that Intermediate Wave (3) is complete. It began in 2022 at a price of 1,616.675 and ended at a price of 5,602.225.

IF Intermediate Wave (3) is complete then Intermediate Wave (4) is in play and typically retraces 38.2% of Intermediate Wave (3)’s entire gain or in this case to a price of 4,049.745.

What’s next? Assuming Intermediate Wave (4) ends at 4,079.745 then Intermediate Wave (5) should advance to a new all time high. To what price?

I’ve provided a projected price range for Intermediate Wave (5) using a Fibonacci price extension ruler. That projected price range is 6,895 to 8,635. Gold has experienced explosive wave fives.

Finally, Intermediate Wave (5)'s completion will also complete Primary Wave (circle) 3. So Primary Wave (circle) 4 will be one helluva a pullback.

The above narrative is pure conjecture based on EW guidelines.

Going forward I’ll wave count the Intermediate Wave (4) decline and refine its target.

As for a time line I don’t have one at this time. Breeze

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