As expected after yesterday’s candle formation, gold moved down and printed a red candle. The dances with the 200 DMA continue. The question now is whether this is a minor pullback before moving higher or the move down proceeds. Let’s try to decipher the messages from the candles, TA and waves.
This daily overview contains:
– analysis of the daily candle chart and TA;
– 2hr EW chart with the short-term targets;
– mid- and long-term forecasts.
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