Gold forecast for the 12.07.2021Hey Folks,
As you can see from my chart, I use the EW-theory to forecast. In the case of gold, I assume that the correction has ended after the sharp rise of the last few days. This is an extended flat correction in which the required parameters have been perfectly confirmed. In fact, I assumed such a correction in advance because the momentum was heavily on the bull side and in these cases an unusual correction can be standard. Assuming the correction is done, I expect clear buy signals towards new short-term highs at the beginning of the Asia session, which should then move towards 1824 before the first resistance becomes noticeable. From a fundamental point of view, nothing should stand in the way of this. That said, have a successful week! I am looking forward to your feedback.
Greetings,
Raffa
