When every one bullish in this yellow metal, we have to look at the wave analysis for long term cycles. It's hard to agree After tremendous bull run(3rd wave) from march 2000 to September 2011 ,Gold is in 4th wave consolidation(3,3,5 Normal flat) Emerging C wave will bring gold to 1440 levels(minimum61.8%) in october this year and followed by $1060 in 2024. logrithmic scale choosen for clear visual of wave labelling.
First of all , thank you for sharing your idea , so for me , I think that it will retest the resistance with that small correction (regular flat) maybe it could reach the 2200's , and then it will fall to the 1100's
So I agree with you
Good luck
apcconsult01
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Before that if it cross 2000$ or 2080$ its last high then, still it will be possible
Or which will be the top point to get fall ?
selvamB
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@apcconsult01,please study elliot waves before comment, I am interested to take some experts
selvamB
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@apcconsult01,ABSOLUTELY the TREND is DOWN(see 3 LL and 3LH)
So I agree with you
Good luck