Gold appears to be in a sideways corrective phase after a strong impulse wave (see our Ghostsquawk course module on Elliott Wave Theory). Note that the Kovach OBV has flat-lined confirming the ranging behavior.
Currently, the price is right in the middle of the upper and lower bounds of the Kovach Reversals Indicator, suggesting it could go either way from here. Watch 1768, and 1759 from below, 1777 and 1780 from above.
Currently, the price is right in the middle of the upper and lower bounds of the Kovach Reversals Indicator, suggesting it could go either way from here. Watch 1768, and 1759 from below, 1777 and 1780 from above.
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