The daily chart below provides a more detailed view of the early stages of the red wave III. From the December 2022 low, a bullish price cycle unfolded within the red wave 1. In this context, the black wave ((v)) displays an expansive phase, concluding the red wave 1 in July 2023 at $7.60. From the peak, an accumulation pattern within the red wave 2 emerged in the...
Gold prices experienced a positive trend in the first half of the day, reaching a peak of $2,016.38 per ounce against a weakening US dollar in the XAU/USD pairing. However, post the Wall Street opening, the precious metal encountered some volatility, settling at $2,010 as the day unfolded. Modest declines in US indicators followed the robust performance of Asian...