Though it is unclear if W.4 in Gold is complete or has one more leg down remaining, from a swing perspective the market is suggesting one more up leg with upcoming resistance around 2513.
If we see continuation of W.4 then the next support level is at 2847 and sustenance below the same would suggest extreme weakness and the possibility that this market maybe doing something else.
If we see continuation of W.4 then the next support level is at 2847 and sustenance below the same would suggest extreme weakness and the possibility that this market maybe doing something else.
Note
1H : Reversing precisely from the marked level of 2487 : Note
1H : Booked partial profits on longs, trailed remaining : 
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Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
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.