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BCMel

Elliott wave projection for gold bounceback

Long
Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
BCMel  
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators elliottwaveprojection Gold
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trendanalysis chartpattern indicator elliottwaveprojection gold
This is my hourly projection for spot gold, given that a resumption of the strong 3.5 month uptrend is likely to continue.
Gold has been rising in spite of the US dollar maintaining it's strength.
MACD is making a gradual recovery on the hourly and is positive also on the daily and weekly charts.

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