There are two schools of thought right now, and both sides are firmly convinced they are correct. The bullish case: Gold started a new cyclical bull market in late 2015. The bearish case: The bounce out of the 2015 bottom was just a counter trend bear market rally, and at best gold is stuck in a long sideways channel similar to the 1980-2001 period. While I have to admit there is a lot of compelling evidence to support the bearish scenario I’m not convinced that is correct. I’ve noted before that gold tends to move in a distinct ABCD pattern. The A-wave is an aggressive rally out of a major corrective bottom. The B-wave is some form of correction that clears the bullish sentiment produced during the explosive A-wave advance. (B-waves can be rather complex and exhausting). The C-wave is where the gains are made. Then finally the D-wave decline as the C-wave tops and a major correction begins. I’ve shown an example in the next chart of this 4-wave pattern....
from GoldBroker.com https://www.goldbroker.com/news/gold-new-bull-or-same-old-bear-1401
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