Metals Miners and Forex Updates Archive

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October 7: Gold continues to roll over from an (X)-wave rebound and with small-degree five-wave declines and three-wave rebounds in place, downside acceleration should be getting underway soon. Weekly and Monthly momentum are rolling over, similar to other tops of importance and once below last week’s lows, acceleration in an initial five-wave drop of larger-degree should be underway

October 3: GDX continues to roll over from a corrective rebound from last year’s low and an overall head-and-shoulder top formation and in these rebounds, Gold Miners continue to “show-the-hand” of the Gold complex with three-wave structures. Even on a nearer-term basis, a smaller, head-and-shoulder top has formed and more importantly, several Mining Indexes sport b-wave triangles in the middle of these bounces, and these b waves were being left on the charts late in the day.

October 2: The Dollar’s wave structure continues to ripen for a wave-(2) top, as well as the completion of the right shoulder of a head-and-shoulder top that goes back 4.5 years now. Momentum is diverging commensurate with an important turn so it is just a matter of putting in a five-wave decline to finally confirm that wave (3) is getting underway to the downside.

October 1: In Gold, Tuesday’s action was all about coming back up for a retest of the breakdown point, as well as the neckline of the head-and-shoulder top and the general area in the mid-1480’s should be just about it for this bounce.