Gold - Maybe an Elliott Wave cycle is forming on weekly chart
Having broken the 1337 pin level of US election day, the next target seems to be 1375.
Level 1375 corresponds to 38.2% retracement of 2011 highs, which is also the high level we saw in 2016.June.
1200-1300 band is broken and the price action seems extremely bullish now.
I will follow 1200-1375-1300 waves to form. This formation might be a long-term Elliott Wave cycle.
Level 1375 corresponds to 38.2% retracement of 2011 highs, which is also the high level we saw in 2016.June.
1200-1300 band is broken and the price action seems extremely bullish now.
I will follow 1200-1375-1300 waves to form. This formation might be a long-term Elliott Wave cycle.
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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.