Gold

The broad bearish outlook :

Gold has retraced to the anticipated Fibonacci 0.5 level, impulsively! Hence, the correction might continue to develop the ongoing wave ii in an ABC zigzag – now through the Fibonacci 0.618 retracement level at 1197.1.

Subsequently, the decline in impulsive wave iii of (iii) of the minute degree third wave will be resumed…

The broad outlook is persistently bearish against the 1215 – as the top of wave (ii). The broad target is now 1133.4, where wave (iii) equals 1.618 times the length of wave (i).

Gold - Intraday 120Gold - Intraday 240

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2 thoughts on “Gold

  1. Raj

    Hi,

    Can you please update eur/usd chart. Do you think eur/usd has topped as 4th wave? do you think it still has the potential to go more up or is this a major reversal for the 5th wave. I am asking this as i feel gbp/usd has already topped and is on a major reversal down. Kindly update the eur/usd chart. thank a million.
    Regards
    Raj

    Reply

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