Gold Expanding Wedge
Gold is on the 5th Leg of this expanding wedge which commenced from April 12th 2024.
Price has tested the 50 MAV and is holding presently above 2365 , which is also the
618 Fibonacci retracement of the prior leg.
Momentum is to the downside printing 47 currently. There is room to move further down ,
maybe in 5 waves.
The target would be the confluence of the 100 MAV and supporting trendline near
the 2300 level.
Price has tested the 50 MAV and is holding presently above 2365 , which is also the
618 Fibonacci retracement of the prior leg.
Momentum is to the downside printing 47 currently. There is room to move further down ,
maybe in 5 waves.
The target would be the confluence of the 100 MAV and supporting trendline near
the 2300 level.
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