The Elliott wave pattern from the 2020 high to the 2022 low could be viewed as an A-B-C flat pattern.
As a result, the rally could be the beginning of a new uptrend in wave 1 of 5; OR
The 2022 rally is viewed as a connector 'X' wave that will connect with another corrective pattern.
I'm looking at $2,000/oz as being a zone where a bearish reaction may appear under both counts above.
As a result, the rally could be the beginning of a new uptrend in wave 1 of 5; OR
The 2022 rally is viewed as a connector 'X' wave that will connect with another corrective pattern.
I'm looking at $2,000/oz as being a zone where a bearish reaction may appear under both counts above.
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Are you ready to learn Elliott Wave? Take our Free Elliott Wave Readiness Assessment: bit.ly/EWreadinessquiz2
seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
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.