Coming down...
Gold takes another dive and confirms our turnaround zone. The purple trendline is broken, which sends a positive signal for further downwards pressure. However, there is another hurdle coming up. We are talking about the $1908 area where support is to be expected. Nevertheless, the bears should be able to bring prices down to roundabout $1860. In this case, the time factor also plays a key role. We consider the current movement to be a wave 3. So the longer it takes for the bears to break the support at $1908, the less likely the wave 3 in green becomes, as it will lack the impulsiveness typical for this type of wave. All in all, we are moving in the right direction, and our turnaround zone is confirmed. The next big step are prices below $1908.
Is the next stop in the area $1860? What do you think?
Gold takes another dive and confirms our turnaround zone. The purple trendline is broken, which sends a positive signal for further downwards pressure. However, there is another hurdle coming up. We are talking about the $1908 area where support is to be expected. Nevertheless, the bears should be able to bring prices down to roundabout $1860. In this case, the time factor also plays a key role. We consider the current movement to be a wave 3. So the longer it takes for the bears to break the support at $1908, the less likely the wave 3 in green becomes, as it will lack the impulsiveness typical for this type of wave. All in all, we are moving in the right direction, and our turnaround zone is confirmed. The next big step are prices below $1908.
Is the next stop in the area $1860? What do you think?
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🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
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📊 Daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter at hkcmglobal.com
相關出版品
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。