Gold Update

I was finally able to do a rudimentary initial daily analysis on August Gold with the INVERTED analysis pattern suggested by some cyclical analysts for gold (and other commodities).

I am looking over the daily and here is what we have:

20 week 'nested' peak is showing up at May 2nd. While it's possible we are sitting right on a nominal 40 day peak, there are not nearly as many reinforcing waves as there were during the 20 week cycle which had every lesser cycle synched up to peak at the beginning of May (sell in May, go away, lol)

if this analysis turns out to be valid, I would say that last night's high would more than likely be the high for this week and we really shouldn't be expecting too much from the bullish side in Gold this week, with an outside possiblity that the 40 day cycle did not peak as early as predicted and will crest with a slightly shorter cycle set to peak tomorrow-ish