UEMS Elliott Wave Update: Price completed a 5-wave move, peaking at 1.19 MYR, followed by an ABC correction to 0.81 MYR (key support). Holding above 0.81 MYR may trigger wave (iii) towards 1.50 MYR. A break below invalidates the count. #ElliottWave
Update: Gold formed an ending diagonal in H4, suggesting a wave cycle completion. A pullback for wave (iv) is expected before a new push higher. Watching for key support to hold before wave (v) continuation.
Gold's recent pullback signals a sub-wave 1 extension of Wave 5, supported by strong demand and bullish momentum. Weakening DXY and rising Japan bond yields confirm a shift to safe havens. With no sell signals, gold is poised for another rally, targeting higher levels.
Gold (XAUUSD) remains in strong demand, revising the prior bearish outlook. Price action now targets $3,000, completing a possible final wave as part of the bullish structure. This move likely marks the last ride before a potential correction. Watch for key resistance near $3,000.
