Friday AM Gold potential target reached overnight

Friday Close chart to the left.
The trend lines are pulled from various hi/low ponts above and below. I find the compression of this chart compelling to suggest accumulation.
I believe this chart will resolve up.

It's been interesting watching the cash gold action closely and calculating pivots on the short term moves. Trend lines are matching up with Pivot calculations.

My low Target was 603.1 which was breached down to 600.65 for only a few minutes.
One could conclude we go lower bc the Target was breached. The 603 target was projected on a 8hr bar begining with A = 644.5 B = 616.4 C = 625.55, we shall see if it holds. Rick has 599 basis August and I bet that was hit today.

A second Target area 604.1 was projected from 615 / 608 / 610 ABC

The stocks were reluctant to follow the POG down. I'll post a few more observations later.

Please let me know any comments or input on this work, have a good weekend.


Here's a look at a 10 min bar, illustrating the potential bottom ST. I have been buying the last few days as this market could turn on a dime and I don't want to miss a dime... Perhaps the wrong strategy, but I don't mind the risk nor trying to pick the exact bottom.

My pivot low target of 603.1 vs an actual 603.55 on this chart, a difference of 45cents I will consider the target as held for now.

After the open, some trend line studies, 2nd chart is zoomed in.