18 Feb 2021 ● 07:11 AM
Gold spot is still above the wave 1 low of 1764 and so the wave count that we are in wave 2 down is still valid. If you want to know what happens if 1764 breaks then let me tell you I have no idea. I have not thought about it as of now. Requires some imagination. But we can say look at 61.8% of the entire rally from the March'20 bottom, at 1690. Not what I expect in any case so god knows. I think we should make a double bottom and turn. In fact, this might end up being a bullish inter-market divergence with Silver that is holding out stronger.