In the last analysis, I issued a warning that the uptrend was very strong and could continue without forming a large correction beforehand. And as we can see, this is precisely what happened, and today’s opening too is still very strong.
The small trend is completely intact, very far into the movement and, in my humble opinion, ready for a significant correction. However, the same advice as before still applies. This trend is incredibly strong and is still in a position to continue on, even without a larger correction.
The global leading index S&P 500 is also barely showing weakness. Here, too, we are also in an intact trend and currently fighting the fifth movement. The last correction went relatively deep – to 2167 points – to then directly rise once more. The current high, and therefore the current all-time high, is located at 2183 points.
However, the market is currently having a hard time directly continuing the trend. But as long as the closing price does not underbid the green correction zone, the trend can still continue to progress.
The gold price is in a very stable and young upward trend. The last high is at $1375; the last correction zone runs between $1358 and $1305. The last correction led the gold price to the lower edge of the correction zone, and after a bottom formation and clear signals from the DowHow setup, the price then went back in the direction of the last high.
It was unable to reach this, however, meaning that there is still a chance for a new movement to start at any time.
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