Gold appears to be in the midst of a bear market in what I believe is a Wave 4 and if this is so then the current Wave would be a C Wave down.
Within this C Wave it looks like we are about half way through a Wave 2 flat pattern.
Within that flat pattern it appears to be a <B> Wave flat of a (B) Wave flat.
Within that <B> wave we appear to be in the {C} wave of a zig zag with a little higher to go.
Flat patterns don't typically have a deep retracements so theoretically the entire Wave 2 structure should not exceed the terminus of the 4th wave of Wave 1.
This is just analysis, I think its an interesting perspective at a time when different sources are advising to buy gold.
Within this C Wave it looks like we are about half way through a Wave 2 flat pattern.
Within that flat pattern it appears to be a <B> Wave flat of a (B) Wave flat.
Within that <B> wave we appear to be in the {C} wave of a zig zag with a little higher to go.
Flat patterns don't typically have a deep retracements so theoretically the entire Wave 2 structure should not exceed the terminus of the 4th wave of Wave 1.
This is just analysis, I think its an interesting perspective at a time when different sources are advising to buy gold.