#XAUUSD Update #Gold

18 มิ.ย. 2023

The correction is far from complete. The chart below indicates a scenario with [A][B][C] flat which, however, is easily interchangeable with a more complex wxy combination going sideways.

The bigger picture remains unchanged since the last update on May 27. While I agree with gold bulls that the trend is up, I still see the next 6-8 months as extremely challenging for stocks, energy and precious metals. Perhaps, this is due to the coming liquidity squeeze. Below I indicated two possible scenarios of expected decline.