IN THE NAME OF ALLAH THE MOSTGRACIOUS THE MOST MERCIFUL
GOLD MAY TO FACE MORE PAIN, DESPITE REBOUNDING FROM LOW OF $1817
OUR NEW INTERPRETATION IS BASED ON THE BIGGER PICTURE AND SOME ADJUSTMENTS TO OUR PRIMARY ELLIOTT SCENARIO, THE HISTORIC PEAK AT $1920 WAS THE TOP OF PRIMARY THIRD WAVE,THEN PRIMARY FOURTH WAVE HAS BOTTOED AT $1046.SINCE THAT PRIMARY FIFTH WAVE HAS COMMENCED. AND WE HAVE BEEN TRACKING GOLD ON THE SMALLER DGREE
AS SHOWN ABOVE, GOLD COMPLETED THE MINOR THIRD WAVE AT $2075,THEN MINOR FOURTH WAVE IS STILL ONGOING TO SEARCH ITS BOTTOM, WE HAVE NOTED HERE THAT THE MINUTE FIFTH WAVE OF MINOR THIRD WAVE WAS EXTENDED.WHICH IS FOLLOWING A SHARP CORRECTION BACK TO THE SECOND SUBWAVE OF THE EXTENSION,SO EXPECT PRICES HOLD AT $1700-$1750 RANGE ON CONDITION THAT $1765 IS BROKEN
THE SECOND DIAGRAM SHOWS THE BEARISH ALTERNATE BAT PATTERN I MENTIONED IT EARLLY IN THAT POST AND EXPECTED GOLD WILL REACH $2050
https://stockcharts-home.blogspot.com/2020/07/gold.html
TODAY I‘D LIKE TO CONFIRM THE ELLIOTT SCENARIO BY HARMONIC‘TARGETS
THE FIRST DOWNSIDE TARGET AT 0.382% OF AD AT ROUGHLY $1700,AND WE WILL SEE THERE IF GOLD HOLD, OR CONTINUE TO DECLINE TO THE SECOND TARGET AT $1450
