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Gold

7 Sep 2020 ‚óŹ 04:48 AM

Today I have to start with the Gold spot price - source NetDania, why? Investing uses futures data and CFDs and Viratech pulled out the spot data from its eod files. Now I have used this website before so they do give very good charting tools and with volumes too. The importance of spot charts is that futures can be misleading for wave counts. The discount/premium in futures causes some wvae counts to violate rules. In this case the spot chart shows wave iv of 1 well above wave i of 1. No overlap. But in the futures chart it overlaps. Now on Friday the spot chart shows that wave e is complete for the triangle as prices closed positive end of the day. This should mean that we slowly progress into wave 5 up from here. Futures data did not change yet and will need one more day to reflect it maybe.

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