I think we saw gold's high this year. That was in March and now there should be a consolidation phase for the red A, which is said to consist of the a b c waves.
If gold doesn't fall below $ 1375 this year, then next year, again in March, we could see another high for the red B.
Afterwards to complete the black C, heavy losses would be expected.
If this is the case, then a weekly closing price under the MA100 would be a clear confirmation.
See the circle on the left how high the MA100 has to rise for the break to occur below it.
So it will take a long time for the moment to come.
If gold doesn't fall below $ 1375 this year, then next year, again in March, we could see another high for the red B.
Afterwards to complete the black C, heavy losses would be expected.
If this is the case, then a weekly closing price under the MA100 would be a clear confirmation.
See the circle on the left how high the MA100 has to rise for the break to occur below it.
So it will take a long time for the moment to come.