Gold wave structure from $1965 reveals Wave 1, 2 and 3 potential termination around $1802, $1876 and $1676 respectively. If correct, the metal is towards Wave 4 termination around $1750/55, the fibonacci 0.382 retracement of Wave 3 as presented here. The yellow metal might resume lower from there towards $1550 and further. Only a break above $1876 could change the short term bearish structure.
Remain short against $1965, towards $1650 and $1550.
Remain short against $1965, towards $1650 and $1550.
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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.