Gold Extending Gains
Ian Copsey | Jan 26, 2016 05:26AM ET
GOLD INTRADAY CHART
26th January 2016
This sure looks like extending gains but with a deep pullback before it reaches its corrective high. I suspect that from here we should see the (navy) Wave iii reach the 176.4%-198.4% projection between 1,128.32-1,134.03. With Wave ii being 57.2% we can expect Wave iv to be between 33.3%-38.2% (maybe 41.4%) before the Wave v can reach minor new highs - probably around 1,135-40. This will form the third Wave a and suggests a moderately deep correction in Wave b.
I continue to expect the Wave c will reach the 66.7% - 76.4% retracement in Wave (b) between 1,143 and 1,157 approximately.
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