Gold Weekly Analysis

Since we issued the warning on August 26, gold has been following the outlined path with almost frightening precision. On Friday, the metal produced several important technical signals that could have a major impact on the next phase of the move—and these signals are the main focus of today’s discussion. In this Gold Technical Analysis, we focus on the mid-term outlook and several prominent candlestick combinations that may help determine whether the current decline is ready to accelerate, pause, or attempt a reversal. We also examine the latest momentum structure, key support and resistance levels, and the technical conditions that could confirm either path. Finally, we review both the short- and long-term Elliott Wave roadmaps to see how the recent price action fits into the larger structure. With gold now approaching an important technical juncture, the next few sessions could provide critical clues about whether the August warning continues to…