More Upside Can Be Expected On GOLD - Elliott Wave Analysis

Good morning traders,

On gold we are observing a completed running triangle in wave B, which can now be followed by a sharp and impulsive drop as leg C of a bigger fourth wave correction. Potential support/bullish turn can be near the Fib. ratio of 38.2/50.0 (1440/1410 region).

That said, a strong rally, and a break above the 1481 level would confirm more upside.

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Trade well,

The EW-Forecast team

GOLD, 4h

gold, 4h