🪙 GOLD - 18th week

 🪙 GOLD - 18th week of the basic cycle (15-19 weeks, sometimes up to 26-29 weeks). The cycle is mature with signs of a low point. The forecast extreme on June 10 turned gold up. At Friday's close there is a weekly and daily up signal.

⚠️ The situation is not easy. On the one hand, we technically have a very bearish picture: a double top and a dead cat bounce. On the other hand, there is a mature cycle with daily and weekly upside signal. Apart from the prospect of a new base cycle, there is a possibility that

1️⃣ the current base cycle will fall even lower or

2️⃣ the new base cycle will be bearish.

☝️ What is the game plan? Two scenarios. In a mature cycle, you cannot ignore buy signals; you can miss the trend. Attention to June 17 and 20. These extremes are greater for oil, but can also work for gold.

🐂 If they fail to reverse gold, the next stop is at the forecast extreme on July 1st. There we will need to look at where we will be in terms of level (breakout of the maximum or third peak).

🐻 If gold reverses this week, the position (if open) can be turned over, and on July 1 (week 20 of the cycle) we will expect a new low or double bottom.

Here it will be possible depending on the situation

👉 try again to enter a new basic cycle or

👉 to see if we are already in a new bearish base cycle that could begin on June 10th.