Gold Elliott Wave analysis [Video]

Peter Mathers TradingLounge

Gold XAU/USD & Silver XAG/USD Technical Analysis Elliott Wave Forecast

Overview: The 1800 is a good target for Gold to take some profit, we can renter IF the 1800 becomes the tested support

Elliott Wave Gold: Wave Wave (iii) of iii)

Gold Trading Strategy: Risk On;

Peter Mathers tradinglounge.com

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

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Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

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Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.