#Gold = On Track #13 + Weekly Closure = 13.05.2022 $GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #ElliottWave $XAU #commodities #seekingalpha

#Gold continues down, as forecasted in March. Note that today’s is a weekly closure. In order to make the current, strongly bearish candle somewhat neutral, gold needs to rally about 2.5% in the remaining 7 hours. If it “plans” to reverse here – a ~4.2% rally is required to flip the candle bullish. Seven hours to go.

A bigger picture and probabilities were discussed in the Weekly Analysis:

Monthly Analysis:

Long term forecast:

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