GOLD Rallying - Elliott wave analysis

Hi Elliotticians, gold can be trading in a five-wave, bullish impulse, now ideally unfolding a wave (V) of a higher degree, up from 1783 lvl. That said, sharp impulsive activity from the mentioned level is a confirmation that wave (V) is unraveling. Possible resistance and reversal zone for wave (V) can be around the Fib. ratio of 0.382 and 0.618, and near the 2260 level, from where a minimum three-wave reversal can show up.

Trade well.