Gold short term Elliott Wave viewsuggests that the yellow metal is in a sideways move, typical characteristic of a triangle Elliott Wave structure. A triangle is a sideways range structure with ABCDE label. In the case of Gold, decline from 1/25/2018 peak ($1366.06) ended in Minor wave A at $1302.6.
Minor wave B bounce ended at $1356.83. Minor wave C is currently in progress and while bounces stay below $1356.83, the metal is expected to extend lower.Elliott Wave Analysis: Gold in Sideways Range
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