Price on long term view looks bullish and unfolding as an impulse.
Looking at a complete wave 1 to 3 and the current consolidation taken as a wave 4 correction.
At the moment price has been trading at a typical 38.2% fibonacci level for a wave 4 retracement which can be reliable level to give us direction of what gold might do next.
Price might drop below to try and find support again at the 50% fibonacci level. And price must not travel below the end territory of wave 1.
A happy trading to you all.
God Bless You.
Looking at a complete wave 1 to 3 and the current consolidation taken as a wave 4 correction.
At the moment price has been trading at a typical 38.2% fibonacci level for a wave 4 retracement which can be reliable level to give us direction of what gold might do next.
Price might drop below to try and find support again at the 50% fibonacci level. And price must not travel below the end territory of wave 1.
A happy trading to you all.
God Bless You.
