Gold Elliott wave analysis - 5th wave extension.
Gold looks to be forming subwave 3 of Primary degree wave 3 (blue) with a potential ending diagonal in progress for wave 5 of subwave 3. This could be confirmed at lower time frames.
On this scale, the macro count suggests plenty more upside for Gold, with upper targets around $3300.
However, as this appears to be a 5th wave extension, it's possible there are even higher targets at around the $4900 level.
On this scale, the macro count suggests plenty more upside for Gold, with upper targets around $3300.
However, as this appears to be a 5th wave extension, it's possible there are even higher targets at around the $4900 level.
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