XAU/USD Gold Elliott Wave analysis - 24th March

GOLD Elliott Wave :


XAU/USD Wave Analysis
XAU/USD Wave Analysis 

Previous Impulse wave High 1702 and Low 1451 

70.7% Fibonacci retracement around 1626 and today made high of 1626.

XAU/USD weekly trend is still Bear. ABC correction wave may be completed @ 1626

If New Bear Trend start then we are in 1st wave. Closing below 1626 Bear trend may activate and any pullback on higher-level bears may take full control.

Conclusion :

Trend: Bear 

Bears may activate below 1626 for the Target of 1520
Bulls may activate above 1640 for the Target of 1705


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