Elliott wave Analysis: GOLD In A Pullback
Gold is turning lower, now trading beneath channel support line so we see metal in a new corrective wave. It's wave B that can be looking for a support at 1330 or maybe even at 1307-1316 area if we consider that B wave normally retrace at least 38.2%.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Kommentar:
Gold turned up perfectly from projected support after three-wave decline as expected!! We remain bullish for wave C up towards 1400 level or maybe even higher!
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