Al3x
Long

Gold price analysis: End of correction near!

FX_IDC:XAUUSD   Gold / U.S. Dollar
Gold             has been in a very strong bull trend since the start of 2016. I have zero reason to believe this trend is changing any time soon. We could be looking at the end of an ABCDE correction; which means the final E leg is already behind us. In that case the E leg ended where the C leg ended in this technical picture. However, if gold             keeps going sideways to slightly down (to around 1.320) for the coming two weeks this will likely constitute the E leg.

Please note that 1.300 is a very critical support level and should not be broken.
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