Gold broke out the structural resistances of $1186-$1196, and closed above this range today, that indicates the continuing rally in Minute wave c(circle).

This bullish outlook is now against the $1184.2, through the anticipated target at $1251.5, where Minor wave C equals 0.618 times the length of Minor wave A. (a common relationship between the same direction waves in a triangle formation.)

Gold - Daily

2 thoughts on “Gold

  1. elnaz

    it is a great idea. This pattern is clearly shown on the Weekly chart. But when we come to the smaller time-frame to see more details. wave B seems not a 3-waves pattern and it’s more like a 5-waves pattern…


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