Gold is currently moving sideways, reflecting a period of consolidation that appears to be Wave 4 in the Elliott Wave structure on the daily timeframe. This phase often represents a pause before the next impulsive move. Traders should stay patient and watch for clear breakout signals, as Wave 5 could bring strong momentum once the correction completes.
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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.