This chart is all about the assumption of the future moves of the gold, which has created by using the Elliott wave patterns of impulsive & corrective waves.
In the beginning, there are impulsive waves which converted into the corrective waves now. Gold cannot keep drilling downward. Before the downtrend begins, we may see the following levels: 51160 - 51300 - 51460 - 51600+
Kindly note, don't buy it after a breakdown of the last tail. This breakout can pulldown the gold price up to 50660 - 50400 levels.
In the beginning, there are impulsive waves which converted into the corrective waves now. Gold cannot keep drilling downward. Before the downtrend begins, we may see the following levels: 51160 - 51300 - 51460 - 51600+
Kindly note, don't buy it after a breakdown of the last tail. This breakout can pulldown the gold price up to 50660 - 50400 levels.