Gold weekly update 15.08-19.08
Last week I was neutral on Gold and it moved sideways.
At this moment, it is too early to say in which direction price will break. We have to follow the path of manipulation.
But considering few facts I am more bullish for the upcoming week.
The sideways move have bullish momentum, based on price action.
In my opinion, Gold will create some king of double top, then go down to clear the liquidity from the consolidation, test the middle of the wedge, test the big broken channel and continue up.
This scenario will confirm my current Elliot Wave count also.
At this moment, it is too early to say in which direction price will break. We have to follow the path of manipulation.
But considering few facts I am more bullish for the upcoming week.
The sideways move have bullish momentum, based on price action.
In my opinion, Gold will create some king of double top, then go down to clear the liquidity from the consolidation, test the middle of the wedge, test the big broken channel and continue up.
This scenario will confirm my current Elliot Wave count also.
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