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Elliott Wave Charting: Gold Bullish View

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Elliott Wave Charting

Gold

The price structure shown on gold signals for more strength to come, since a decline from 1192 to 1157 was clearly corrective, labeled as a red wave 2). Recently, prices found a top at the 1213 region where a black wave 1, sub-wave of a higher wave 3) completed. The current Short move is just a corrective wave 2 pull-back with more strength to come.

Gold remains in Long mode so long as prices trade above the 1157 region.

TheLFB GoldTheLFB Charting: Gold 4 Hour View

 

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