Gold Elliott wave analysis
short term gold bull rally ran out of steam near 1965 which was started at 50% retracement of entire trend.
everything depends upon 1764 support if that broken bulls will re enter the market again at 61% retracement.
on the breakout of wxy low at 1764, 100% projection of bearish trend lies at 1648 blow multiple daily low.
(since this rally ends at 61% retracement of bearish trend and sub waves of this trend were corrective not the impulsive. new lower low is much more expected. )
everything depends upon 1764 support if that broken bulls will re enter the market again at 61% retracement.
on the breakout of wxy low at 1764, 100% projection of bearish trend lies at 1648 blow multiple daily low.
(since this rally ends at 61% retracement of bearish trend and sub waves of this trend were corrective not the impulsive. new lower low is much more expected. )
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