Elliott Wave View: Gold Should Continue Higher
Elliott Wave view in Gold suggests the pullback to $1276.64 ended wave 4. Internal of wave 4 unfolded as a zigzag Elliott Wave structure. Wave ((a)) of 4 ended at $1276, wave ((b)) of 4 ended at $1295, and wave ((c)) of 4 ended at $1276.64. Rally from there looks impulsive. Up from $1276.64, wave ((i)) ended at $1286.53, wave ((ii)) ended at $1276.59, wave ((iii)) ended at 1315, and wave ((iv)) ended at $1308.
The yellow metal can soon end wave ((v)) to end the cycle from 01/21/19 low. Afterwards, we expect a pullback to occur in 3-7 or 11 swings to correct the cycle from 01/21/19. Currently, the 1H right side is to the upside against 1276.75.
The yellow metal can soon end wave ((v)) to end the cycle from 01/21/19 low. Afterwards, we expect a pullback to occur in 3-7 or 11 swings to correct the cycle from 01/21/19. Currently, the 1H right side is to the upside against 1276.75.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.