I'm thinking that pullback (blue arrow) was either a 1/2 cycle low or the end of the 1st DC. If its the 1/2 cycle low we should move higher towards $1390 as the top. If its the later we are on day 2 of the 2nd DC. The first DC was 34 days long which is right in line with the previous cycles. If I am right we should blow past the previous high at $1348 easily. If we get resistance and start going side ways then it may be the end of the 1st DC and we get that notorious heavy sell off. IMHO
Note
US Dollar whould get rejected at the 50sma and start moving down towards the box. This will boost gold even higher. 1390 targetNote
Pennant forming on the hourly chart, should move higher.Note
You're welcome
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.