Gold is in the process of forming a symmetrical triangle after the rally. Wait for the completion of the fifth wave(E).
A break of wave E to the top side above wave D will confirm an uptrend with resistance at 1280 and possibly rise again to 1307.
Alternatively a move of wave E below the trend line will move price further down to 1242 area.
A break of wave E to the top side above wave D will confirm an uptrend with resistance at 1280 and possibly rise again to 1307.
Alternatively a move of wave E below the trend line will move price further down to 1242 area.
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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.