down trend from all time high has made its 61% retracement with overbought RSI.
down trend has formed bull flag chart pattern with current bottom its breakout projection is 2311 at 100% projection
fib time extension tool has its 0.618 projection in june. next quarter can be gold bullish trend.
rising inflaiton are supporting for gold and technical lower low lower high ending at 0.618 fib retracement of last bullish trend attract new buyers
Elliott wave forecast
bull flag down trend wxy correction was started after the end of abc wave after 1.382 projection which predicted precise all time high . the retracement of bull trend has completed its 0.618 projection . After the end of correction we can expect next impulsive wave which can be 135 impulse or abc corrective wave like last year making 100% projection at 2311
last time it made flase attempt from 50% retracement which make traders less confident to buy here but from risk reward ration perspective it is big winner.
this can be last trade for gold as alternate to inflation and money printing. One day this trend will also end like last bull market ended in 2011
down trend has formed bull flag chart pattern with current bottom its breakout projection is 2311 at 100% projection
fib time extension tool has its 0.618 projection in june. next quarter can be gold bullish trend.
rising inflaiton are supporting for gold and technical lower low lower high ending at 0.618 fib retracement of last bullish trend attract new buyers
Elliott wave forecast
bull flag down trend wxy correction was started after the end of abc wave after 1.382 projection which predicted precise all time high . the retracement of bull trend has completed its 0.618 projection . After the end of correction we can expect next impulsive wave which can be 135 impulse or abc corrective wave like last year making 100% projection at 2311
last time it made flase attempt from 50% retracement which make traders less confident to buy here but from risk reward ration perspective it is big winner.
this can be last trade for gold as alternate to inflation and money printing. One day this trend will also end like last bull market ended in 2011
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from bottom to top of the channel
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wave 3
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