There is a 3 drives pattern that has a target 1450 on a third leg higher. There is strong momentum with the RSI in the bullish zone and rising. The MACD is also about to cross up, a buy signal.
Transaction en cours
Commentaire:
Gold's move up has been slow. So if I mark the minor waves we just completed wave iv and wave v up maybe up next which should be the final push for wave 5 to end. In this wave count 3<1 so wave 5 will be truncated and can end anytime once a five wave advance is complete. It need not go to higher targets and therefore you will need to be alert to any trend reversal in the price of gold. Once the next move up starts the wave iv swing low is a good reversal point to use.