Is this the final exhaustion in Gold we need for the next leg up ?

Sentiment and the weekly technical assessment call for a medium term low in the making. Therefore we should expect a low within 0-2month.

Pls also observe the Love-Hate realtionship Gold has with the Equity market where it likes to tag along for the bull leg in equities and then (as 'safehaven') during the correction Gold tends to run alone.

The Cycle chart actually confirms the technical findings. We could see a monthlong rally followed by another test of the bottom before we really continue flying again.

The next charts gives further evidence that the Gold market is OVERSOLD and should rally soon. But be careful, 'rally soon' would also allow for another exhaustive move to the downside before the rally!

Bottom line:

1. long & medium term bullish
2. ...waiting for short term confirmation that the bottom is in