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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Are you ready to learn Elliott Wave? Take our Free Elliott Wave Readiness Assessment: bit.ly/EWreadinessquiz2
seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
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.