Gold has had an amazing run, but technicals suggest a pause is in order.
Simple study highlighting 4 year long ascending channel. Price currently at top of channel. Indicators converging at top.
There could be another wave up to go on gold. Obviously not overnight but if the market sellout continues into 2029 this next leg will become more possible. Elliot Wave and Harmonics AB=CD indicative of potential big move on gold.
This might be logical wave Elliott wave count which suggests the gold price may achieve final long term correction to hit the red trend line at around $1000/ounce may be before or after 2020.
Correction in 1 hour time frame when the pull back to 1224 confirmed. targets: around 1216 and 1208
Current daily trend signals an impending temporary reversal to silver's parabolic decline since the peak of $52.