Gold Found A Top; Higher Degree Correction In Play
Nov 14, 2024

XAUUSD(GOLD)

Gold is making some strong reversal, falling even below 2600 so it’s clear that a temporary top is forming and that deeper correction is now in play. It can be an even higher degree black wave IV, meaning that retracement can last, especially after new swing lows in 4h time frame, which suggests that first leg down from the recent highs is impulsive. So be aware of even more weakness after any rally, which will show up at some point higher into subwave 2/B. In such case watch 2610-2644 resistance.

Gold Found A Top; Higher Degree Correction In Play
XAUUSD(GOLD) 4H Chart

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