We talked about a bullish daily breakout of a wave IV triangle on gold back on September 03, where we mentioned and highlighted that it’s running into 5th wave. CLICK HERE
In the 4-hour chart, we see metal now in the third subwave of this fifth wave, extending now to 261.8% Fib target. So gold is clearly in an uptrend as long as we trade above 3400, but keep in mind that this higher-degree fifth wave could complete the bull run from the 2023 lows within the next few weeks. But we are not in that final stage yet, looks like more upside after intraday sub wave four pullback. First support is at 3579-3600. So after some slow-down, gold is expected to stay up.
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