We had covered the new major bull run back in Jan. with XGD ( ASX Gold Sector). Start of a new bull run after a breakout which we had.
What is happening atm with this sector in the short term daily ?
It is, what I would consider in a trading range, correcting. In short, within a major bull run having a tea break atm.
I am applying Wyckoff Method of Analysis to try and solve the mystery of what may come next ? We have a confirmed completion of PHASE A and in PHASE B ( longest phase in Wyckoff) of a potential re-accumulation trading range. I say potential, since we have no confirmation of this trading range being a re – accumulation, not yet anyway. The confirmation will come in PHASE D and E. It may be a distribution pattern also. But, since it’s major trend is up, I am, as of this writing ( 10/03/2016) treating this trading range as a re accumulation until proven otherwise.
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