Short Term Elliott wave
view in Gold
suggests that the decline to $1381.42 low on July 1 ended wave (4). Above from there, the yellow metal is rallying higher as an impulse Elliott Wave
structure looking for more upside within wave (5). Up from July 1 low, wave ((i)) ended at 1396.35 and wave ((ii)) pullback ended at 1381.9. Wave (( iii
)) ended at 1436 and wave ((iv)) pullback at 1423 low. Up from there it ended wave ((v)) of 1 at 1437 peak. Below from there wave 2 is proposed to be completed at 1412 low.
We dont like selling it and prefer more upside against 1381.81