Gold Supply Zone 1961-1964

 XAU/USD :

Gold Elliott wave Analysis


Gold has reached 1972 and three waves from 1972 are under progress as abc (a)

Let's discuss about first leg (a) of abc (3-3-5).

Subwave a is completed at 1949 and b may complete around 1960/1963

c wave has five subwave 12345 waves will drag the gold down up to 1940/1937 & first leg of abc , a will be completed.

It may take around one or two days to complete the (a)  wave.

Alternate scenario: Close above 1972 will nullify this analysis.



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