week 3-3 update

click to enlarge

Gold is pulling back for a wave ii. The depth is a unknown being a wave 2. The cloud chart gives us a clue to what might be expected.As you can see the 38.6% retrace is also at the 26 price bar and the 50 day ema is just above the 50% fib retrace level. We will just have to be patient for the level to develop.
   Any further drop below the cloud (green) would be bearish and a rethink of the wave structure.



Nat-gas is/has been retesting it's Wave 1 (Circle) Primary wave at the price of $4.44 Using the Harmonic E-wave spreadsheet gives me reason to believe that there are higher prices ahead.Whether this is a (b) wave or a Wave 4, prices should not drop any lower.  also note the Ichimoku cloud support at $4. See Tuesday's chart Below.

With the Uranium ETF breaking above the 50 week price sma I think we can stay with the Bullish theme. The Daily I-cloud is bullish and we have alternation on the wave count.I believe we have seen a wave -i- and are counting a sub-wave now (60 minute wave).

Jo has an divergence (RSI) on the 60 minute and 120 minute charts and is still holding on from a stronger pullback. My target price last reported as yet to be hit. There is a lower price target of 36.30.
but I believe we need another high before the pullback.

Also I have updated the www.hillmans-harmonics.com  weekly tables with a few changes. I will be away from my desk the 3-06 to 3-10 so comments will be restricted to my twitter site.