LiquidityMaster

The initial downside, before the moon mission for GOLD?

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
After seeing classical price action for a traditional correction (from an Elliot waves perspective), the commodity started a trendy price action to the upside. It looks like that the top for these three impulses is finished, and a correction has begun. The price objectives for this correction are based on Fibonacci levels (0.382 - 0.618). Overall, once the correction finishes, higher prices have to be expected if GOLD trades above 1732.6 USD.

Together, we will find if this trendy price action may correspond to the first wave of a more significant three impulse waves.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.