DailyMarketUpdate

Gold: Direct Route or Detour?

COMEX:GC1!   Gold Futures
Gold has extended its visit in the green zone between $1814 and $1847 and has reached its upper edge. Here, gold has finished wave 4 in green and should turn downwards to head for the orange zone between $1707 and $1657. There, it should complete wave 5 in green as well as wave iii in orange and start a countermovement in the course of wave iv in orange afterwards. There is a 40% chance, though, that gold could overshoot the green zone and make a detour above the resistance at $1921 before resuming the descent.
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