GOLD is making bigger intraday recovery, but still in three waves a)-b)-c) and into ideal 38,2% Fibo. retracement for wave »iv«. So, still watch out for further weakness within wave »v«, but only if the price manages to stay below 1820 invalidation level, otherwise gold can see bigger and more complex corrective rally.
Gold 1h Elliott Wave analysis
Gold is in a recovery mode on 4h chart, away from 1751, but only in three waves that we see as wave B) moving towards 1820-1848 resistance. Therefore, we should be aware of another leg down, into wave C) of E to complete a higher degree triangle. Break below trendline support near 1808 will put weakness in play.
Gold 4h Elliott Wave analysis
