GOLD : Bear market rally is over [Elliot Wave Analysis]
Corrective move upwards on XAUUSD with triangle thrust target and .618 pullback met.
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Recent price action on gold is corrective, which means it can see some temporary upside before at least another leg down.
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Extension in the 5th, empty space below.
You guys in the comments need some help with fUnDamEntAlS?
You guys in the comments need some help with fUnDamEntAlS?
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Clean 5-wave recovery on gold, so short term bias switches to bullish after a 3-wave PB. This is a key area for the bearish argument.
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For the record, the alternate view has the triangle completed lower and it sees one last push.
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Alt count posted above is in play. Macro bearish bias remains -the high is just not in yet.
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High should be in now - with confirmation of Nov low break.
Target adjusted to ~940s , in line with the first gold support from the original idea.
Target adjusted to ~940s , in line with the first gold support from the original idea.
*gets lectured about "economics" and "fundamentals"*
These kinds of comments make me feel way more confident on short this asset.
You guys have no idea what you are talking about, just trying to convince others in a vogue attempt to convince yourself.
I have been tracking and updating this and silver since January 2019. Post your narratives elsewhere, please and thank you.
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