The Elliott Wave analysis for gold is bullish on the recent move above $1800. This price movement suggests the crash low on August 8 was a 'C' wave. A new wave higher has begun that will most likely terminate above $1920.
So far, gold is building a nice impulsive wave. Prices may scoot straight up to $1920 OR pause first around $1840 before extending its run to above $1920.
Either way, the Aug 8 low is likely to hold and any corrections are planned to be partial retracements.
So far, gold is building a nice impulsive wave. Prices may scoot straight up to $1920 OR pause first around $1840 before extending its run to above $1920.
Either way, the Aug 8 low is likely to hold and any corrections are planned to be partial retracements.
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Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.