Gold Update
Despite a very impulsive move, gold waves are difficult to count. I even assumed on this chart that the whole move could be wxy in wave 1 of a leading diagonal. There is no divergence on RSI meaning that there should be new lows very soon. At the same time gold can easily rip shorts in a very sharp countertrend move. Gold is notorious for doing wild unexpected swings that only later come together as jigsaw pieces of standard patterns.
I will refrain from labelling the smaller waves so far to let the count reveal itself.
I will refrain from labelling the smaller waves so far to let the count reveal itself.
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⏱️ Timely updates of WTI, Gasoil, NatGas charts explaining every twist
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📏 Chartopedia, with examples of applying ElliottWave to real world charts
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