Of Gold Extensions مقياس إمتدادات الذهب
Friday's $2431 high in gold consisted of a 21% rise from the Feb 14th low. Such percentage extensions from key lows or/and technical levels such as the 200-DMA, could flag crucial opportunities for partial/full profit-taking. Watch here.
Reviewing my previous vote / comment, a recent decline would go down to 1.4280 - 1.4155, than a consolidation would take place up to 1.4550 - 14760, than a third wave down would persue the trend down to 1.3855 - 136 levels..
A projection of the broken parallel channel uptrend would extend the wave1 to around 1.3855 (100 DMA), than a retracement in wave 2 would take place up to 50%, 61.8% or 78.6% of wave 1.