Gold Weekly Summary 5/4/2024

Gold is currently on the 4th wave.
Within this weekly wave, it's also at daily 5th wave.
We shall see a green weekly close next week.
Bullish trend should continue until 2400 where we will see multimonth correction.
My trading strategy for Gold next week is buy.

Commentaire:

Gold indeed was closed greenish at the end of this week, although it was closed with a little higher than expected. I was expecting weekly close at around 2345 instead of current 2360.
In the coming week, it will be very interesting. There is possibility of closing with a red candle next week. So please stay patient.
We shall see how the week starts. If it starts with a downfall, it then shall reach up to 2400. If there is a spike to 2410, we may see a quick turnaround of falling to 2325 level. Let's see price action next week.
Have a great weekend!