…I was just sent this, hot off the GS presses, Thursday 8am.
2. Gold Daily/ Weekly –The rally since December 3rd continues to look like an incomplete 4 of 5-waves higher.
This means there’s likely going to be at least one more move higher to
fulfill the setup. Near-term support seems fairly strong between 1,192
and 1,185 (includes 38.2% retrace of the entire Dec./Feb. rise). This
entire wave count stands within the A leg of an ABC counter-trend rise.
Over time, should have potential to reach as far as 1,381-1,392. This
longer-term target includes 38.2% retrace of the ‘11/’15 decline as well
as the target from a declining wedge that developed off the Mar. ’14
high.
Do with it what you will.