Elliott Wave technical analysis with trading signals for Gold, WTI Oil, SPX, NASDAQ, DJIA
Gold invalidated the five waves’ impulsive decline and is in the extended 5th wave of the upside. We had 3rd wave finish at 2074 and a pullback in the 4th wave. Break above 1960 again is needed for a 5th wave extension. The instrument broke below 1900, making this irregular flat correction. Look higher as long it is above 1820. A confirmed break below 1820 will tend to invalidate the upside count. We are waiting for the downside alternative count to trigger as the instrument is unable to extend above 1920. And we have it with a break below 1820 so the five waves downside count is on the way to being confirmed and validated.
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