This looks like the last important Gold Top of 2018

With a delivered week close precisely at 1222.00$ - important long trigger for the countertrend - the gold bounce finally switched to its Second Gear after being flat and totally aimless for 8 long weeks.

Thus, the recent multi-month downtrend cycle had to be officially declared over and the gold should therefore continue to rise until the wide 1250$ to 1280$ resistance area (MAJOR!!) is reached in a 12 to 14 weeks lasting bullish cycle.

However, as the situation now represents, I suspect that this countertrend will not be able to reach or work off even the 1250$ lower MAJOR resistance band. In fact, on Friday, he should have finally topped at 1246$ in its 11th week. IF that is atually the case, there is now a 5 to 8 weeks lasting downcycle that should easily re-conquer the 1200$!

The valid bounce up setup is a "classic" 3 Fib number Candle up which starts measuring at # 1 // 2018 Low. The GUNNER24 Signals that beginning at 1240$ heavy resistances start to radiate:

The low of bounce week No. 9 shows a very successful first test of 1*1 Angle support and this was reason to switch into Second Gear. # 9-close succeeded in reached a 1222.00$, for sure not able to overcome the yearly/monthly/weekly 1222$-buy trigger finally but good enough to overcome the first square line which is at 1221.50$ by small amount and the Blue Arc which was another natural bounce resistance.

This # 9-close in one go was able to overcome two natural bounce resistances existing in the weekly, accordingly # 9 fired a double buy candle on weekly base in GUNNER24 Terms.

==> Thus, the lower line of 1st double arc finally became next important bounce target and you recognize it by your own that imminent uptarget of lower line of 1st resp. entire 1st double arc resistance uptarget is now finally worked off.

Both, Blue Arc as 1222$ horizontal now have morphed to future stronger weekly supports which should be tested and usually also will be broken to the downside in course of the next 5 to 8 weeks IF gold hast finally topped at # 11-1246$ bounce high!

The bounce cycle with the coming week is in its 12th week. Actually he should have found its price top sometime in it`s 12th to 14th week cause the weekly bounce that began at # 1 // 2018 Low with a +90% probability should have been oriented to the 13 Fib turn number.

Thus, the time factor actually allows another swing higher over the next 3 weeks (12, 13, 14). Therefore, the lower line of 2nd double arc at 1272$ can be STILL be achieved in the weekly 3 Candle up that has developed after the # 1 // 2018 Low.

The 3 weeks lasting initial up impulse automatically calculates the lower line of 2nd as possible or allowed uptarget for the upcycle which began at 2018 Low. Hmm. Its very interesting that the for the next weeks entire 2nd double arc possible bounce uptarget resides at or close to the next 50$ higher big magnet above major 1222$.

Entire 2nd double arc environment, which is future main resistance, takes course 1270$ to 1280$ for the rest of 2018!!, whereby the 1280$ uptarget possibility is in sync with the upper line of 2nd.

But right now, I do not believe that the gold can go even higher cause mostly the natural 1st double arc resistances often ring in the final end of an entire bounce cycle when a bounce began weak, as it is the case for this counter move.

This knowledge/experience together with the observation that the upper line of 1st was accurately executed at the achieved bounce high followed by the # 11-weekly closing below the lower line of the 1st double clearly indicates that the countertrend cycle has powered out in terms of the price factor.

==> 3 Candle bounce up setup offers that the 1st double arc is 1 time confirmed - downwards sloping - weekly resistance environment and upper line of 1st double arc is sharp defined week high resistance!