GOLD is trading higher, now unfolding final stages of a wave five as part of a higher degree wave iii of a bigger bullish cycle. We labelled possible turning point regions for the metal, which are at 1345/1351 area, where Fibonacci ratios of 261.8 and 423.6, and the upper corrective channel lines can project end for wave iii. An impulsive turn, and a break below the lower Elliott wave channel line would suggest a completed impulse, and corrective wave iv to be in play.

GOLD, 1h

- advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.