Trader, analyst and instructor with a 6-year experience

GOLD: weekly wave analysis

By Roman Petuchov

Weekly. Corrective bearish wave [4] (simple zigzag) was constructed. A new bullish trend [5] is now being born. In the coming months we expect upside to continue. 

Daily. Corrective wave [ii] is now being formed.

H4. Wave [ii] is a bearish double zigzag. This week the market will develop a complex corrective wave (x). It will likely be followed by a (y) zigzag.

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