$XAU = $Gold : Daily Analysis = 25.10.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing

Gold closed the day above $1897 and made a Tower Bottom combo. The bullish odds are high. Let’s have a closer look at the metal from different perspectives.

CANDLES
While the quarterly and monthly frames remain bearish, the weekly are neutral and the daily switched bullish. There is a chance of flipping the monthly odds bullish in 4 days.

Daily
Gold formed a bullish continuation candle that closed above 200 MA. It finally closed above that large red candle and formed a Tower Bottom. The odds are bullish and they are quite high.
If metal continues with a green candle tomorrow, the rally will continue.

Odds: Bullish

ELLIOTT WAVES

If gold continues higher tomorrow, I would adopt the blue count as primary.

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