Hi Traders,
GOLD (now at 1219.29) could end its course around 1195 (area 1191-1202) and begin a temporary bounce to 1240-1245.
ELLIOTT WAVES
The monthly chart shows that the final target of this 1-2-3 (in red) is around 1072 and this is confirmed by the weekly chart where wave 3 (in red) is currently unfolding from the top at 1196.
The daily chart breaks down wave 3 in smaller waves and shows that Gold is targeting the area 1193-1197.
Finally, the 4-hour and 1-hour charts show clearly that the very small wave 4 is complete and that we are witnessing wave 5 to the area 1191-1202
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
GOLD (now at 1219.29) could end its course around 1195 (area 1191-1202) and begin a temporary bounce to 1240-1245.
ELLIOTT WAVES
The monthly chart shows that the final target of this 1-2-3 (in red) is around 1072 and this is confirmed by the weekly chart where wave 3 (in red) is currently unfolding from the top at 1196.
The daily chart breaks down wave 3 in smaller waves and shows that Gold is targeting the area 1193-1197.
Finally, the 4-hour and 1-hour charts show clearly that the very small wave 4 is complete and that we are witnessing wave 5 to the area 1191-1202
Monthly chart, click to enlarge
Weekly chart, click to enlarge
Daily chart, click to enlarge
4-hour chart, click to enlarge
1-hour chart, click to enlarge
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