Gold Weekly Summary 5/4/2024

4 May 2024

Gold is currently on the 4th wave.
Within this weekly wave, it's also at daily 5th wave.
We shall see a green weekly close next week.
Bullish trend should continue until 2400 where we will see multimonth correction.
My trading strategy for Gold next week is buy.

11 May 2024

Not

Gold indeed was closed greenish at the end of this week, although it was closed with a little higher than expected. I was expecting weekly close at around 2345 instead of current 2360.
In the coming week, it will be very interesting. There is possibility of closing with a red candle next week. So please stay patient.
We shall see how the week starts. If it starts with a downfall, it then shall reach up to 2400. If there is a spike to 2410, we may see a quick turnaround of falling to 2325 level. Let's see price action next week.
Have a great weekend!