(14 votes)

Last Updated Date: 2 June 2021 @ 7:41 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold spiked yesterday to 1917 high testing a short term target and made a strong pullback to 1892.70 low.

right now we are considering gold in wave 3 that might be finished @ 1917, but a test to 1923 followed by correction would be more convenient taking into consideration that we lack divergence on daily time frame.

We consider abc correction as wave 4 that should terminate between 1875 and 1854 levels followed by final wave 5 to complete wave (1) with a retest at 1850 1900 with double top formation or we might resume uptrend and break 2020 historical highs.
A break below 1850 will increase selloffs to 1835 1800 levels. A break above 1817 will test 1923 1926.
A close above 1920 will fuel rallies to challenge 1950+/- zone 

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