Gold making a bullish turning point-Elliott Wave analysis
|The impulse from a new high or new low is the most important price action when it comes to change in trend. It’s a clear move with no overlaps between waves 4 and 2, which confirms that the current recovery is strong. We see this going on gold. So more upside after a pullback is expected.
However, the most important event for the upcoming moves in the next few sessions will be the US NFP, which may give more clear outlooking regarding upcoming decision by the FED regarding the interest rates.
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