#XAUUSD = Impressive Magnitude = 15.06.2021 #GOLD #preciousmetals #investing #charts $GDX $GLD

If gold is setting up for a decline, the magnitude of 1-2-i-ii is impressive. A very modest Elliott Waves projection points towards $1740-$1660 area.

From the candles perspective, a closure below ~1850 today would form a Three Black Crows that normally signals an extended downtrend.

The three Bearish Alerts have been issued since June 1. The references are below:

Alert #1 on June 1:

Alert #2 on June 3:

Alert #3 on Jun 9:

GDX Weekly Analysis:

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