How do you handicap the probability of the 2 paths you site? Also, if it is the “major correction” path - what is the possible downside and length of the correction? If the up path how high & how long? How will we know to timely, effectively act on whichever path it is?
DB’s 2 possible paths for Gold 11/25/24
The primary path from here should be up. A break of the previous high of 2723 would signal that wave (3) has already begun. This is the higher probability path.
However, there is an alternative path, where we already peaked in wave 5 at 2802 and we’re in a major correction. This is a lower probability at this time but I wanted you to be aware of it. A break of the low at 2542 would confirm the bigger drop is in play.
If Silver closes below 29.75, and Gold breaks 2600, then down we go. Until then, the move up to 2850-3000 and 36+ is probable. Downside targets on a break below the aforementioned support levels would be 26 and 2450 respectively.
Are you doing a SLV post also? If not, would love to know if you think silver is in the same pattern/fib-level or if it has a mind of its own, which it has lately
Hi Dave,
Thanks for your great timing again on avoiding this attack. Will we be focusing mostly on SLV for the rally to come.
Ron
Thanks for the insight, David.
How do you handicap the probability of the 2 paths you site? Also, if it is the “major correction” path - what is the possible downside and length of the correction? If the up path how high & how long? How will we know to timely, effectively act on whichever path it is?
DB’s 2 possible paths for Gold 11/25/24
The primary path from here should be up. A break of the previous high of 2723 would signal that wave (3) has already begun. This is the higher probability path.
However, there is an alternative path, where we already peaked in wave 5 at 2802 and we’re in a major correction. This is a lower probability at this time but I wanted you to be aware of it. A break of the low at 2542 would confirm the bigger drop is in play.
If Silver closes below 29.75, and Gold breaks 2600, then down we go. Until then, the move up to 2850-3000 and 36+ is probable. Downside targets on a break below the aforementioned support levels would be 26 and 2450 respectively.
What is the downside target for a weekly blowout - $2300?
2450 imho.
David where does a major weekly take us iyho? $2300
Silver and gold down 3%. Miners down about the same. Usually they move 2x to 3x what metals do. I’ll take that as a positive.
Are you doing a SLV post also? If not, would love to know if you think silver is in the same pattern/fib-level or if it has a mind of its own, which it has lately
Nvm, just read the chat and saw your comment about silver post this evening. Carry on
Thank you. Once again. Such amazing precision 🙏🏻
IF we close below 2542. How deep of a correction would you guess? Is there a ballpark?
Thanks, do you not see the Asia session testing the lows again and the euros also like the 14th and 15th before they buy in again?