Gold XAU/USD Weekly Outlook 3rd Jan 2023
Wave III is continuing or it is completed in 1950.
from 1950 I am expecting a triangle or complex correction as shown below where 1910 & 1922 is demand area.
When the price comes in this area, it may bounce towards 1935-1945.
If the price trades below 1900 then we may see the following ABC pattern in which C wave is 123.6 to 138.2 of wave A.
Bears will get active below 1893 for the Target of 1871/1849
Bulls will get active between 1893-1910 for the Target of 1945
from 1950 I am expecting a triangle or complex correction as shown below where 1910 & 1922 is demand area.
When the price comes in this area, it may bounce towards 1935-1945.
If the price trades below 1900 then we may see the following ABC pattern in which C wave is 123.6 to 138.2 of wave A.
Bears will get active below 1893 for the Target of 1871/1849
Bulls will get active between 1893-1910 for the Target of 1945