#Gold is down 12% off the top; eight more percent to go. So far, the metal is following this call in March and if one believes that the weekly closure was bullish, the candles have disappointing news.
Let’s evaluate recent developments from various perspectives and project the next steps.
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 and short term forecasts with Elliott Waves.
The chart above was a technical setup on March 29th. This chart below was a candle call on March 18th:
Quarterly Analysis also covers the very long perspectives of the quarterly candle formations:
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