Gold looks to have one final decline. In a triangle 4th wave now. It could stay here for a while. If it fakes me out my stop is just beyond the 56-hour M/A, make it 1342.
Long 4% SSO and 2% EUO. Will sell EUO at the DX hourly M/A, currently 78.56.
Stop on 2% SSO at SP March 1277.50, which is nearby.
Steve
ReplyDeleteDon't know if you noticed that Crude broke beneath its support line from the Sept low.
I didn't realize this until a little while ago, but it looks like Oil has completed an ending diagonal from its high in August as A and its B was the low in Aug until its high a few days ago as E wave.
I am new to this EW analysis, so please feel free to correct me.
DennisP