My bullish Elliot Waves Outlook on Gold:
Gold suffered a strong sell-off today September 16th due to technical issues. As we can see, gold has undergone an unprecedented ABC correction that I assume will stop in the areas highlighted in gray. I remain very confident that gold will gain tremendous bullish momentum in the coming weeks. Hence my statement: See this sale as an enormous opportunity. Be critical on this drop, pay attention to the technical pattern and react accordingly.
Keep in mind:
After 5 impulsive waves that lead to major wave one, there always follow 3 correction waves that lead to major wave two. Wave two reacts at least 50% of wave one. We landed exactly on this level. Therefore I assume the bullish trend to continue from the highlighted areas.
Please leave me your opinion.
Raffa from RT
Gold suffered a strong sell-off today September 16th due to technical issues. As we can see, gold has undergone an unprecedented ABC correction that I assume will stop in the areas highlighted in gray. I remain very confident that gold will gain tremendous bullish momentum in the coming weeks. Hence my statement: See this sale as an enormous opportunity. Be critical on this drop, pay attention to the technical pattern and react accordingly.
Keep in mind:
After 5 impulsive waves that lead to major wave one, there always follow 3 correction waves that lead to major wave two. Wave two reacts at least 50% of wave one. We landed exactly on this level. Therefore I assume the bullish trend to continue from the highlighted areas.
Please leave me your opinion.
Raffa from RT