Gold correcting higher toward $1775/80 levels
Gold has carved an intermediary low around $1678 recently and it might be correcting into an A-B-C (3-3-5) towards $1775, to terminate potential Wave 4. Thereafter, the metal is expected to turn lower towards $1650 and $1550 levels. In case of a running flat, Gold might have terminated Wave 4 today around $1738.50. Alternately the metal will unfold Wave C subdividing 5 waves higher towards $1775/80, going forward.
Short against $1876, add mote @ $1775, target is $1650 and $1550
Short against $1876, add mote @ $1775, target is $1650 and $1550
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.