Gold pulls back to 0.25% retracement level; completing Wave B

Gold pulled back to a perfect 0.25% retracement level to complete Wave B. This new low should act as a key low price level completing a Wave B pullback. At this point, longs should begin to take control drive prices much higher - forming a new Wave C (typically the longest price wave). Get ready, this will likely be paired with some "crisis event" news from the foreign markets (China, Spain, South America or others) as a rally in gold will be the result of some other foreign issues diving a protectionist move.

This is an early signal. We could still see many weeks of "bottom formation" or we could see an immediate reversal forming a Piercing Line, Engulfing Line or Morning Star Reversal pattern. If my an analysis is correct, this move in gold will likely be the result of continued pressures from foreign entities and start a contagion that may last for at least 24 months.

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