On Gold we are tracking a bullish continuation from 1272 that should be in five waves, because we are tracking wave C/3 which are both motive waves. Right now we can see only three completed legs, but current sideways price action seems like a fourth wave, so be aware of another rise in the near future, up to 1390-1400 zone.
Only a decisive fall through 1344 support and towards 1318 level will suggest that bearish reversal is unfolding. In such case we would focus on daily alternate count.
GOLD 4h Elliott Wave Analysis
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Originally Published on FX Times
Only a decisive fall through 1344 support and towards 1318 level will suggest that bearish reversal is unfolding. In such case we would focus on daily alternate count.
GOLD 4h Elliott Wave Analysis
Written by www.ew-forecat.com | Try EW-Forecast.coms Services Free for 7 Days
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Originally Published on FX Times
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