GOLD, 9th week of the cycle, key reversal

→ On Friday, April 12, gold showed a key reversal. It is quite difficult to break such a tail back. It’s too early for the forecast extreme on April 26th.

→ If this is an extreme of the cycle, then perhaps it is caused by the middle of the Mercury retrograde period. If you remember, I already wrote that quite often the beginning, middle and end of the Mercury retrograde period become cycle extremes. Although, given the chaos that Mercury retrograde brings, it's still possible.

→ We tentatively make the assumption that closer to April 26, the lower extremum of the second phase of the current base gold cycle will be reached. This will be the 11th week of a cycle that averages 15-18 weeks. The first phase lasted 5 weeks. The 4th week of the second phase begins. We monitor technical indicators.