well last week we saw usd pushing gold down to 1212.80 zone as anticipated...and the pullback failed to stop at the 1225.20 minor resistance as indicated on previous chart , which pushed us up back to the 1238.20 major zone ... where gold clearly failed to break again ..i stated last week that we have start a weekly elliotte's wave 3 ....while further analysing gold i have noticed that we still at the foundation phase of the wave 3 hence we seem to be stuck between 1238.20 and 1212.80 zone ...this week i anticipate 1212.80 to be taken out forming a new low at 1192.20 ... and if we reject at this zone we testing 1238.20 zone for the last time ...
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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.