Thursday, 23 July 2020

GOLD close to top?

Hi Traders,

Gold (now at 1883) is really close to the previous top at 1922. After that, it's uncharted territory. Hence, it might reverse anywhere between 1890 and 2000. Prepare for a roller coaster.

ELLIOTT WAVES

The monthly chart shows that the exponential rally started on Aug 16, 2018 has completed all five waves up and this seems to be confirmed by the weekly, daily, 4-hours charts and even the 1-hour chart.


Monthly chart. Click to enlarge




Weekly chart. Click to enlarge




Daily chart. Click to enlarge




4-hours chart. Click to enlarge




1-hour chart. Click to enlarge



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