Gold has broken to the upside and is now in territory of the previous red circle wave 4 (which i labelled as a triangle).
Therefore there is a good probability that it will stall between where it is now and the 1430 level ( wave A of 4 circle )
As it looks to be developing in 5 waves at the moment, this initial leg should represent only a wave A of a correction IF this move is correcting the previous 5 waves down from the top at 1920. Therefore the next most probable move over the next few months should a temporary pull back !
Any feedback and comments would be very much appreciated. Best regards
Therefore there is a good probability that it will stall between where it is now and the 1430 level ( wave A of 4 circle )
As it looks to be developing in 5 waves at the moment, this initial leg should represent only a wave A of a correction IF this move is correcting the previous 5 waves down from the top at 1920. Therefore the next most probable move over the next few months should a temporary pull back !
Any feedback and comments would be very much appreciated. Best regards
