So far in early trading Gold is tracking well with the price action that typically follows a week with a Largest Range of the week being Tuesday as mentioned at the end of last week, “Gold after a Down week with a Large Range Tuesday”

Here’s how price is currently tracking with that chart mentioned above:

In the other scenario from the above analysis on Friday, the opening of the week marks the low, so both charts tend towards a low on Monday. Likewise, the most pronounced rally tends to start late Wednesday in both scenarios.