Gold decided not to fall on Friday, even though stock market rose nicely (probably will update the historical highs very soon). This confirms the idea, that one more leg upward is missing yet. Probably Gold wants to reach the previous top around $1535, which is very close to 0.61 extension of 0-3 from 4 at $1532
Wave 4 is complete in a form of zigzag as expected.
New Elliott Wave channel drawn: upper line connects tops of 1 and 3, lower line is projected from end of 4th wave. Price should stay within the channel, usually penetration during horizontalish sideways correction is not counted.
The first wave of 5th seems complete. I would expect a bit of bounce down towards the channel line at 1501 in the morning on Monday and then strong 3rd wave up.
Wave 4 is complete in a form of zigzag as expected.
New Elliott Wave channel drawn: upper line connects tops of 1 and 3, lower line is projected from end of 4th wave. Price should stay within the channel, usually penetration during horizontalish sideways correction is not counted.
The first wave of 5th seems complete. I would expect a bit of bounce down towards the channel line at 1501 in the morning on Monday and then strong 3rd wave up.
