$Gold $XAU = Daily Analysis = 02.12.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing

Gold is approaching a critical level $1758.91. If it breaks below, it would open a path to much lower prices, perhaps a new low.

This daily overview contains:
– analysis of the daily candle chart and TA;
– 2hr EW chart with a short-term projection;
– mid- and long-term forecasts.

CANDLES
The quarterly, monthly and weekly frames are bearish.

Daily
Today gold canceled all bullish hopes and formed a solid bearish continuation candle and combo. The indicators support a further move downwards, possibly with acceleration from here.
Tomorrow gold could make an even stronger bearish signal (details below).
Odds: Bearish

ELLIOTT WAVES and FORECAST

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Previous Analysis:

Previous Analysis:
https://investingangles.com/2021/12/01/gold-xau-daily-analysis-01-12-2021-gold-preciousmetals-gdx-gld-xauusd-gc_f-investing/


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