As I post gold is still charging higher, but this move sure reflects a bearish rally much better as it is one ugly start to an impulse. Also, if we are dealing with an impulse it would have to rocket ride much further, in fact we would be just getting started.
Any further deviation from an impulse will help support a bearish rally, but by the end of the day it could be a whole different ball game. Posting early in the day, usually forces a quick update later in the day.
I will update this page later in the afternoon PST.
Updated 7:17 PM PST
There is a good chance that we still have one more push up, but I am skeptical at the same time, due to the massive move to the upside. The bottom is hard to justify as a start of a bigger impulse, but stranger things have been known to happen in the
We could be in a bigger triangle or better yet another "C" wave decline and then a rocket move to the upside. Either way we have to see what happens in the next few days or so.