GCG26 – Feb Gold (Last:5215.90)

The daily chart yields two logical possibilities for a top, or at least a pause, at either of two prices: 5132.20, which I’ve been drum-rolling for a while; or 5300.50. The latter represents an extension of the A-B leg that features a highly unorthodox low labeled A2.  Both targets are sufficiently compelling to suggest that bulls will not easily get past them. The patterns, while not in-your-face obvious, are easy enough to identify that we should not expect them to show precise stopping power.  Let’s therefore be prepared for a stall in a place no one is watching: 5129.60, midway between p2 and D of the larger bottom. Notice that it coincides with the lower target at 5132.20, implying there will be double stopping-power there. _______ UPDATE (Jan 27, 9:35 p.m.): A stall?  What on earth could I have been thinking?? This evening’s lunatic leap will achieve a minimum 5281.90, exactly 66 points above; and thence, assuredly, a minimum 5300.50. 

  • CM January 29, 2026, 2:24 pm

    The last 72 or 96 hours have been batshit crazy. Good luck, Godspeed, Github