Hello friends.
Last week, as we thought, according to the analysis, gold continued to climb to the 1780 range after a break in the Range Box. But what happened showed that market vendors still have a lot of power. This week we examined the gold Elliott wave theory.
As you can see, after a complete five-wave downtrend, it made a three-wave correction to the 1780 range. And then the sellers came in to continue the previous downtrend. So I think after this correction we will continue the previous downward trend and it will probably be around the price of 1740. You can see the rest of the scenarios on the image.
Of course, there is a lot of news on the way this week, which is very influential on the gold movement.
Do not forget that there is no certainty in this market.
If this analysis helped you, please support us with likes and comments.
Last week, as we thought, according to the analysis, gold continued to climb to the 1780 range after a break in the Range Box. But what happened showed that market vendors still have a lot of power. This week we examined the gold Elliott wave theory.
As you can see, after a complete five-wave downtrend, it made a three-wave correction to the 1780 range. And then the sellers came in to continue the previous downtrend. So I think after this correction we will continue the previous downward trend and it will probably be around the price of 1740. You can see the rest of the scenarios on the image.
Of course, there is a lot of news on the way this week, which is very influential on the gold movement.
Do not forget that there is no certainty in this market.
If this analysis helped you, please support us with likes and comments.
