GOLD: Further levels using Elliott Wave Theory

We successfully forecasted the path of gold in our post on May 12th.

Now, GOLD is looking like it's entering an impulse wave.
Wave (1) of this impulse was completed on 23rd May. The price then falls between the zone 38.2% and 50% to form wave (2). This was also predicted by us.

Currently, GOLD is in wave (3).

Now, to get the targets of wave (3), we have two possibilities.

1. Wave (3) goes to 100% and then reverses. This case is of the Terminal impulse. And the further path of GOLD can be predicted later.

2. Wave (3) goes to 161.8% (minimum). This is the case of Trending or normal impulse. And further path of GOLD can be predicted accordingly.

For now, GOLD is looking like going to touch at least the 100% (3490.81) level.

This analysis is based on Elliott Wave theory and Fibonacci.

This analysis is for educational purposes only.

This is not any buying recommendations.