The chart above reveals Gold entire rally since August 2018. The price which is in wave (v), the last phase of an impulsive structure is till in the making.
Elliot Wave is Fractal in nature, that is, every wave has an internal sub-wave of lower degree.
In Gold case, wave (v) is not completed yet as the recent rally is just in three-wave. So the price is expected to make a corrective wave iv and resume higher in wave v to complete a five-wave structure in wave (v) of C.
Wave (v) is expected to find resistance at 0.618 Fib extension around $1687 per ounce.
Do you think Gold has completed the five-wave structure already?
Elliot Wave is Fractal in nature, that is, every wave has an internal sub-wave of lower degree.
In Gold case, wave (v) is not completed yet as the recent rally is just in three-wave. So the price is expected to make a corrective wave iv and resume higher in wave v to complete a five-wave structure in wave (v) of C.
Wave (v) is expected to find resistance at 0.618 Fib extension around $1687 per ounce.
Do you think Gold has completed the five-wave structure already?
