I am sorry for the mess, however, a nice cup and handle seems to be almost formed, missing just the handle now. this upward bounce will end at 1750 - 1800 to drop down to 1550 ish and then all the way up to 2950, need confirmation on the resistance on upcoming months but a very profitable trade is setting up so far.
Gold having a massive move lower today down -15.00 at time of idea.
Crazy 3 days going from 1295 up to 1310 and back down all in one trading session.
Getting long as it finds support at levels dating back to January and at the same time moves heavily into oversold status. Looking for this level to support a short term bounce back into 1295-1308 trading zone...
There's a strong confluence of multidiagonals coming up for late 2016 (~30th), or early 2017, this coincides nicely with the work on the gold/silver ratio I've done that suggested we could be in for a reversal in the precious metals.