Gold approaches bearish impulse invalidation level
Gold broke resistance a couple of days ago. If a pullback occurs, I would watch for support at the previous resistance line (which becomes support).
In terms of Elliott waves, the GREEN "4" wave count becomes invalid above 1162.76. The purple waves are an alternate, leading diagonal count which would indicate a possible reversal to the trend.
Previously I've seen no confirmation to the short side. I am staying neutral for now.
In terms of Elliott waves, the GREEN "4" wave count becomes invalid above 1162.76. The purple waves are an alternate, leading diagonal count which would indicate a possible reversal to the trend.
Previously I've seen no confirmation to the short side. I am staying neutral for now.
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