Gold at possible resistance/bearish turn - Elliott wave analysis
|Hello traders,
On the monthly chart of GOLD we see price at the end of a bigger A-B-C correction, which followed as a contra-trend reaction the the previous five-wave fall. Ideally some resistance and a bearish turn can be seen here around the Fib. ratio of 61.8 (1600/1620 region), where bears can again turn price lower.
Gold, Monthly
You can subscribe to our webpage at EW-Forecast for more unique, and daily content. We also have a 7-day trial offer for FX services (1€) and for Crypto services (2€). Check it out!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.