Gold: higher low is due, bounce to 1240 after.
Good morning all,
Here's an update on Gold EW setup - the violent flash-crash that we've seen earlier today is still part of the structure of wave 3 of an ending diagonal that is developing, so a bounce is expected after we complete the last wave of the down impulse (if it's not completed yet). Based on the behavior of the correlated instruments I think we need to see another low (or a higher low) in gold in the next few days before a bounce occurs. The reversal should correlated with the start of SPX sell-off, last lower low in EUR and Crude. This is supposed to take a few days, may be even till the end of the month.
Here's an update on Gold EW setup - the violent flash-crash that we've seen earlier today is still part of the structure of wave 3 of an ending diagonal that is developing, so a bounce is expected after we complete the last wave of the down impulse (if it's not completed yet). Based on the behavior of the correlated instruments I think we need to see another low (or a higher low) in gold in the next few days before a bounce occurs. The reversal should correlated with the start of SPX sell-off, last lower low in EUR and Crude. This is supposed to take a few days, may be even till the end of the month.
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.