FTSE seems now to have confirmed with this week's 3 week engulfing
reversal candle that the break above 7354 prev ATH was a False break and
we should now embark on another bear market
the 200 dma is still rising and should offer some support initially
last weeks top came on Aug 8 which is a secondary date on Gann's Emblem,being midway between Jun22 and Sep 23 (primary dates)
the 200 dma is still rising and should offer some support initially
last weeks top came on Aug 8 which is a secondary date on Gann's Emblem,being midway between Jun22 and Sep 23 (primary dates)
Gold can potentially blow the roof off well and truly. To smithereens. Obviously impossible to confirm but it is doable. If gold goes through the roof like that then stocks would most certainly decline in what would seem an implosion like manner. This week and what follows after that are key. Also if it goes up like the rocket to confirm this potential then obviously any B wave is off the table. Critical pivot was broken last week in the XAU/USD to provide support for that B wave to reduce in probability.
ReplyDeleteNext couple of weeks will be fun.
For something like this rocket in gold to come to get confirmed would be an event. A very big serious event. Staged or otherwise. Any event lining up in time with this high probability XAU/USD wave count would almost certainly be a *staged* event. Too much coincidence otherwise.
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