Gold has re-tested the B-D trendline. A daily candlestick close below B-D Trendline will confirm that the E wave of triangle completed at the 1345 high and a 5 wave downwards movement has commenced. Downwards movement out of triangle started rather slowly, not typical when exiting a triangle, suggesting that we are still in the final E wave and have just completed a 2nd wave correction.
If B-D trendline holds, price should find sharp upwards 3rd wave momentum.
Therefore sentiment: Bullish. For now.
If B-D trendline holds, price should find sharp upwards 3rd wave momentum.
Therefore sentiment: Bullish. For now.