XAU Elliott Wave to be Completed
XAU perfectly respected the support which was made on the Elliott wave 1-4-A. It also broke the counter trend line support of 2-4, which means B has the probability to test this as a resistance. If this resistance is respected I expect a further decrease in the gold price.
At 2752 I expect a reversal to get the second leg of the Elliott wave. There is a possibility that we may hold the 2605 level. So, possible TPs are 2605 and 2555.
The reason I think gold will first increase is because Trump hasn't changed anything so far and the market will take some profits now. After that I expect less negative and political fundamentals which will decrease the gold price.
At 2752 I expect a reversal to get the second leg of the Elliott wave. There is a possibility that we may hold the 2605 level. So, possible TPs are 2605 and 2555.
The reason I think gold will first increase is because Trump hasn't changed anything so far and the market will take some profits now. After that I expect less negative and political fundamentals which will decrease the gold price.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.