Gold may begin Elliott wave 5th downward impulse
Hello traders, I want share with you my opinion about Gold. The chart depicts the completion of the last correction waves a, b, c in the upward trend. However, after a correction, the price has continued to decline, indicating a downward trend and forming impulsive waves in the Elliott wave pattern. Presently, the price is undergoing a correction within the 4th corrective wave. It is possible that the 4th correction wave has concluded, suggesting that the price may continue to decrease. Therefore, it is expected that the price will continue to fall, forming the 5th and final wave. As a result, it is anticipated that Gold will reach its target close to the support area of 1800-1795. Please share this idea with your friends and click Boost🚀
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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.