Gold Intra-day movements - Elliott wave analysis

Gregor Horvat Wavetraders

Hello traders,

No change for gold, we remain bearish for a drop below 1452 as latest recovery to 1554 unfolded in three waves; seen as wave four. In fact, metal also fell below corrective channel support line that can turn into a resistance in current A-B-C rise. I would not be surprised by more weakness later in US session.

Trade well.

Gold, 30min

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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