empty
 
 
07.04.2021 07:33 AM
Elliott wave analysis of Gold for April 7, 2021

This image is no longer relevant

Gold finally seems to have completed the correction in wave 4 and all we need is a break above minor resistance at 1,756 to confirm that wave 4 has completed and wave 5 to above the peak in wave 3 at 2,075 is developing.

Short-term we seen support at 1,722 and of course key-support at 1,677.76 that need to be able to protect the downside. A failure at 1,677.76 will reignite wave 4 for renewed corrective downside pressure towards 1,561.

Trading recommendation:

Buy a break above minor resistance at 1,756 and place your stop at 1,677.

Summary
Urgency
Analytic
Torben Melsted
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback