At the end of last month both metals finished the first move up of the second, larger leg breaking below the signal line support mentioned in my last February post. And in my previous post last week I showed you how gold could help silver traders to jump ahead of the crash as silver lagged behind the gold.
Today I am going to update the charts to see what’s going on there. And the first up is the 4-hour gold chart where I would like to share with you a zoomed in picture.
Chart 1. Gold 4-Hour: CD=AB
I do not usually post lower time frame charts, but this time I made an exception to show you another example of both the perfect AB/CD segments’ work and the Fibonacci ratios involved in the complex structure of any move. Besides that, it's also a perfect work of trends. [Read more...]