Nov. 8th – GOLD

There are many ways to label the move on Gold, so I do not have all C’s in place and confidence and clarity are not there. However I have added a count to the chart, that sees a ((A)) as completed, a triangle for ((B)) maybe completed or still in progress, now expecting the last leg down for ((C)).
The price action is finding resistance at the long term trendline at the moment and prices are trading around the 50 and 100 SMA-daily. Breaking of the key resistance drawn on the chart would invalidate this count. Breaking of the key support would give more confidence that this count might be correct.
For now, I suggest to wait until there is more clarity and confidence before participating.