Friday, June 5, 2015

Is Gold starting a Major Decline towards sub-1000$?

Back in late April(Gold and Miners ahead of FED meeting) we suggested the following pathway for Gold

Recently Gold completed the C wave of an ABC correction and we believe that currently is in wave 1 or 3 of 3.If Gold confirms our case we are about to witness a major decline of gold towards 1070-1060$.Immediate targets 1162$ and then 1122$.

If we are in a third wave then probably we are going to see Gold initially at around 1070 and then maybe even 930$
Currently Gold can invalidate our scenario  if it moves above 1190$