Category Archives: Gold – Daily

Gold

Today’s 8.76 percent rally of Gold may conclude the advance of Intermediate-degree wave (A), which started in early-December. The strong rally day should be the last portion of a Minor-degree impulsive wave 5.

Accordance with this adjusted wave count in daily frame, the following correction in wave (B) will develop soon to a partial retracement level (by technically 50% at 1204$).

Gold - Daily

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Gold

Correcting Down :

After unfolding an ending diagonal in Minor degree wave 5, Gold should be now in the early stages of correcting in likely an A-B-C zigzag (of one larger degree) to the downside.

Technically, the expected target at 1206 would be pointed well as Minor wave A’s extreme.

Gold - Daily

Gold

Bullish Outlook :

Gold could have concluded its correction as Minor wave 4 at 1206. The current advance in the same degree fifth-wave should eventually carry to a new high (above 1287.8).

The bullish count is in place, while the price hold above the 1206 extreme.

Gold - Daily

Gold

Correcting Down :

There is no change in the forecast for Gold. Prices still remain in the process of correcting down in Minor-degree fourth wave.

The correction has potential of retracing back to the Fibo 0.382 level at 1195.7 in the coming days.

Gold - Daily

Gold

Correcting Down :

Gold could be in correcting downtrend in its Minor-degree fourth wave, with respect to the latest adjusting wave count.

The correction of Minor wave 4 has potential of retracing to the Fibo 0.382 level at 1195.7 in the coming days.

Gold - Daily