Gold may be nearing a low for the year.
My yearly cycles on Gold indicated an intermediary low on the 20th August 2018 followed by a short rally higher (probably a correction). My cycles indicate another low or double bottom to complete around the 29th October - 11 December, before price will trade higher again (possibly).
Watch your technicals for a sign of increased volume during the next probable low to confirm the cycles are working. The previous low made on the 16th August was very weak when you are used to studying volume and how it behaves at important swings. Another low with increased selling volume, followed by divergence and increased volume to the upside again (on the cycle dates) would be the ideal signals to watch for.
Let's see how things develop over the next month. I will provide updates on this post to see if we can time a low properly.
Regards
RigK
Watch your technicals for a sign of increased volume during the next probable low to confirm the cycles are working. The previous low made on the 16th August was very weak when you are used to studying volume and how it behaves at important swings. Another low with increased selling volume, followed by divergence and increased volume to the upside again (on the cycle dates) would be the ideal signals to watch for.
Let's see how things develop over the next month. I will provide updates on this post to see if we can time a low properly.
Regards
RigK
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