(COMEX) GOLD SPOT - Next Big Move (EWT)

2021년 1월 7일

(COMEX) GOLD SPOT started to make the bearish Elliott wave. After making the 3rd wave, it started to make the 4th wave. It may see 1970+
The trend will fall again after a particular level around 1965, to make the 5th wave. And after taking a reversal, it will fall up to the dynamic support. After the breakout of the dynamic support, it will hit 1900 - 1886, up to the resistance, and after breaking resistance, the trend will touch 1850 - 1790.

But what if starts to move upside?

1. If it starts to move upside,
2. Or takes a reversal from a particular level

Then it's the failure of the Elliott wave pattern. And the target for the uptrend is as following 1979 - 2000.


Analysis Based on the indicators:

DMI - ADX is less than 25 means downside movement, and +DI is above -DI that shows an uptrend.
RSI is showing a downtrend.