The schedule of gold is very similar to unfinished correction. Possibly the price executed two waves in correction (A and B). I consider that now the price is in a wave of C, having executed waves 1 and 2 impulses. The movement to 1825 is also possible (0.618 according to Fibonacci). However, further there will be growth to earlier me noted purpose 1890-1895. At this level the first large amount is located. Also it is level 0.382 according to Fibonacci from earlier executed large falling on the day chart. I came to such conclusion for several reasons: 1) the purposes on correction according to Fibonacci are not executed; 2) consolidation dragged on and the falling trend slowed down. Thus technical indicators on the week chart indicate the beginning of a turn. Especially it is visible on MACD.
Information provided is only educational and should not be used to take action in the market.
Information provided is only educational and should not be used to take action in the market.
