Gold Looks Higher Towards 1950

Published 05/26/2021, 04:09 AM
  • GOLD is trading higher since week of Mar. 3
  • Yello metal unfolds wave 3) in an impulsive structure
  • XAUUSD looks higher towards 1950
  • Gold (XAU/USD) is trading higher since Mar. 3 week from 1670 area. once again, Gold price is higher, now at important 1900 level.

    From an Elliott Wave approach yellow metal seen in wave 3, in the middle of an impulse that will be expected to resume even higher after we adjusted the wave structure based on recent developments.

    It looks like a strong uptrend with room even towards 1950, but after pullbacks. Nice next support after dip is at 1870 followed by 1851 and trendline.

    GOLD (XAU/USD) 4h Elliott Wave Analysis Chart 

    Gold Elliott Wave Analysis

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