Gold is exhibiting a bearish trend on the daily timeframe, having recently formed a top. However, a minor upward movement is expected as the price touches the ascending channel resistance and completes the Elliott Wave's 5th wave. Subsequently, a bearish reversal is anticipated, leading to an ABC correction pattern following the bearish price action.
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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.