Gold FuturesLong
GOLD: 8 May, 2024
© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M
The broader context suggests that wave (iv)-purple may have bottomed out at 2285.2, allowing wave (v)-purple to unfold upwards.
The short-term outlook suggests that wave ((1))-red recently reached a peak, and wave ((2))-red is unfolding to push lower. Subsequently, wave ((3))-red will return to begin its upward process. Specifically, pushing above the level of 234.19 would confirm this view.
Invalidation point: 2285.2
The broader context suggests that wave (iv)-purple may have bottomed out at 2285.2, allowing wave (v)-purple to unfold upwards.
The short-term outlook suggests that wave ((1))-red recently reached a peak, and wave ((2))-red is unfolding to push lower. Subsequently, wave ((3))-red will return to begin its upward process. Specifically, pushing above the level of 234.19 would confirm this view.
Invalidation point: 2285.2
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.