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$Gold Weekly Analysis 12.03.2022

This week gold made a strong reversal following this epic call on Three Gaps: The forecast also contained references to similar structures in $TSLA and $SPX.

On Friday, two hours before market closure, I shared the following alert:
“No matter how $GLD closes today, it will set the odds strong bearish. The 3-day candles closing in 2 hours will make a clean bearish Harami combo. In order to avoid the bearish spell, $GLD needs to either rally 3.4% or fall 1.6% in the next 2 hours. Probability? Close to zero.”
This is the chart for the Alert.

This week gold was at a multi-year inflection point and I shared a study on the subject a few days ago:

If you are interested in the path gold is going to take from the short- and long-term perspectives, it will be covered in today’s overview.
This analysis is part of the Weekly Series – US Indices, Cryptocurrencies, Commodities, Currency, Large Cap stocks – that can be viewed here.

This Weekly Analysis contains:
– overview of the daily, weekly and monthly candles and TA;
– long term forecast with Elliott Waves.

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