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ew-forecast
Feb 2, 2018 3:52 PM

Elliott wave Analysis: GOLD In A Pullback 

GoldOANDA

Description

Gold is turning lower, now trading beneath channel support line so we see metal in a new corrective wave. It's wave B that can be looking for a support at 1330 or maybe even at 1307-1316 area if we consider that B wave normally retrace at least 38.2%.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.

Comment

Gold turned up perfectly from projected support after three-wave decline as expected!! We remain bullish for wave C up towards 1400 level or maybe even higher!

Comment

Comments
Acel
I was waiting for you to take a look at that! There was a triple RSI DIV on the daily candles the past days.
I think there is an indirect correlation between gold and crypto market. 1317 $ is expected but hopefully would drop a little lower at 1276.
Adeelharoon
@Acel, I am waiting 1260 levels then I buy
kostov.krasimir
prntscr.com/i9d2uk
checked just after i tried to make mu Eliott Wave. Good I see I`m on the right track :)
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