Gold

Will Gold’ongoing-decline be extended to lower levels in the coming weeks?

In a bearish alternate-view on the weekly chart frame, the bearish strength of leading diagonal concept as wave (1), would infer to extend the following waves on the down trend persistently. And hence, the fifth wave of the five-wave sequence A(circled), may be extended to lower levels.

Based on the bearish alternative, A common fibo-expansion target for the extended wave (5) of A(circled), could be around the 950 level, where be established an equality ratio with the wave (1).

Gold - Weekly

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s