GOLD XAUUSD Elliott Wave Analysis
Gold found support last week around 1209where we called a three wave rally, a)-b)-c) move after a completed five waves down from 1360. Recently price has reached a new swing high so it appears that gold is already in wave c) that could stops at 38.2 or maybe at 50% retracement area. We however want to wait and see an impulsive drop from wave c) to confirm immediate bearish view towards 1200 and even lower. ew-forecast.com
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