Gold counter trend resumes towards $1750

9 במרץ 2021

Gold wave structure from $1965 reveals Wave 1, 2 and 3 potential termination around $1802, $1876 and $1676 respectively. If correct, the metal is towards Wave 4 termination around $1750/55, the fibonacci 0.382 retracement of Wave 3 as presented here. The yellow metal might resume lower from there towards $1550 and further. Only a break above $1876 could change the short term bearish structure.

Remain short against $1965, towards $1650 and $1550.