Gold seems to get ready its long lasting side way move.
I am expecting gold to finalize the complex correction by pushing the last lower degree (y)-wave up to $1400/oz area. That will wrap up the (B)-wave and give way to wave (C) . Wave (C) will take the price of gold below December 2015 lows, as far as about $850/oz, which is the 0,618 projection of the decline from 2011 to December 2015. Potentially even lower.
I am expecting gold to finalize the complex correction by pushing the last lower degree (y)-wave up to $1400/oz area. That will wrap up the (B)-wave and give way to wave (C) . Wave (C) will take the price of gold below December 2015 lows, as far as about $850/oz, which is the 0,618 projection of the decline from 2011 to December 2015. Potentially even lower.
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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.