Gold moving up as expected (Elliott Wave Analysis)

Gold seems to have reversed near the earlier mentioned invalidation level around 1241.50 .
As of now it seems to be moving for a Wave 2 retracement near the red support region.

SL is still to be kept at Invalidation level.

I will update further as this market progresses.

Commentaire:

See how aggressively buyers jumped in at the support level.