woolleyfx

Gold 12H - End of October Outlook

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Following my previous gold chart


I would hope for a retest of $1950 before a dump until after the election, after a propped up economy ($) helps re-elect DJT.

We have a nice Elliot wave in play with a break of support now turned resistance and with a fib retracement from the last LH to the last LL / Waves 2 - 3.

After the world has clarity after November, I think that is when we will see the true value of Gold , cryptos etc.

Check how these zones hold up and the cross point on 12th October, IMF is also revaluing their SDR between 12th - 18th of this month.

Hope to see this unfold and a drop in Gold for a great chance to buy before a major surge which is well overdue.

This also aligns with Silver's chart which I will post soon, a very clear retracement is due aiding a bearish bias for the short term.

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