From peak of 4th January, price ended in 3 waves at low of 113.47 and made a pullback in a form of a Expanded Flat Correction ABC which suggested to end at peak of 115.68. From there, price declined in 5 waves and currently is doing a retracement for further decline.
After price made 3 waves pullback from peak of $1808 which ended at low of $1794, price climbed in another 3 waves and suggesting that price is making an ABC Expanded Flat Correction. Anticipating 5 waves decline to happen for this Flat Correction to end between $1796 - $1787 before another leg to the upside to complete another ABC Corrective Wave from the low of $1780.
Price suggested wave (A) of ((ii)) ended at the peak of $1808 and currently making a small pullback for wave (B) of ((ii)). Expecting another leg higher towards $1829 to complete this 3 waves pullback before the decline towards $1718-$1719
Price probably could make another low on monday opening to end it as 5 waves down. Currently on a 30m timeframe chart, price looks like to be in a triangle structure of a wave (iv) and RSI doesn't give any divergence between Friday's low and $1791 low which calls for another low before the real bounce happen.
Price looks to be bouncing after formed a 4hr tf bullish engulf. Here shown series of possibilities that might add up that $1828 - $1830 will be the price for this retracement to end.
Price suggesting 5 waves down is ending soon and a 3 waves pullback will take place to make wave ((ii)) of (C)
Price decline from peak of $1853 ending in 5 waves soon and 3 waves bounce is expected to happen for more downside.
After price suggested to end WXY Corrective Wave at peak $1853, price are declining in 5 waves and looks to be almost completed for Wave ((i)). A 3 wave bounce will happen soon and expecting rally to fail for more downside.
A bigger picture for Gold that it is currently ranging in a triangle form of an wave (X) from the peak of $2075. Expecting price to decline towards $1719 before a bounce could come in to make wave E before the final 3 waves down to complete wave (Y) towards $1518.
Price broke above triangle which ended the cycle for Wave (iv) of (C) of (Y) and suggesting wave (v) is ending anytime soon and complete the whole structure of WXY Corrective Wave from the low of $1752. Anticipating price decline towards $1719/20.
Current price right now seems to be forming in a triangle structure with internal looks to be moving in 3-3-3 waves so far and it can be within wave (iv) of (C) of (Y).
Decline from peak of 1.1482 suggesting price ended as 3 waves decline at low of 1.1300 to make Wave (X) of an WXY Corrective Wave structure. However, on an alternate view, the ABC Correction from low of 1.1185 could have ended at the peak of 1.1482 and the decline from that peak could have unfolded as 5 waves. Double correction to the upside is still possible and...
A little update from previous analysis suggested that wave (iii) of (C) of (Y) ended at peak of $1847 and from there 3 waves pullback looks to be ending for wave (iv) of (C) of (Y). Anticipating one more leg towards $1853 to end wave (v) of (C) of (Y) and completing the whole structure of WXY Corrective Wave from the low of 15th December 2021.
Update from previous analysis, price suggested wave (B)(blue) already ended at the peak of $1823 and coming down from there another 5 waves of wave (C)(blue) before another leg upside for wave (C) of (Y) of a larger degree.
Price suggested that 5 waves move from the low of $1782 has ended at the peak of $1829 and now suggesting price to make a pullback. On 4hr tf chart. price may suggest that the 5 waves move could be wave (A) of (Y) of an WXY Corrective Wave structure from the low of $1752. Expecting this pullback to end somewhere 50% fib retracement from low of 7th January before...
A small update, price broke above $1827 high, and looking at smaller timeframe, it looks like to be making an expanded flat correction for wave (iv) (red) and expecting price to make another higher towards $1852 to complete this 5 waves climb from low of $1782 and also to complete the whole ABC Corrective Wave from low of $1752. The internal of wave (B)(black)...
A little update from previous analysis looks like price suggested to end 3 waves climb from low of $1782 at the peak of $1827 and now anticipating price to make 5 waves decline for wave 3 or (C) (red)
From previous analysis, looks like like wave (B) (red) ended at the peak of $1831 and made 5 waves down at ended at the low of $1782. Now price suggested a pullback for wave ((ii))(blue) already ended at peak of $1824 and anticipating price to make a decline from now.