#gold #xau #metals
Gold is showing signs of slight exhaustion as we complete this 5 wave WXYXZ structure showing divergence amongst the two peaks of the most recent impulse waves through the RSI .
The orange area is a fibonacci extension where price may find a deep sell off if not then, possibly now.
If price continues into the extreme level, this may fall quite rapidly.
Yellow Projection: Preferred scenario entering into the orange area for short sells.
Teal Projection: Second scenario: Moving through extreme level would suggest a price target as high as $1,285.
For more conservative sell opportunity, wait for EMA 21 to cross EMA 55 , or trend line close below.
Looking for 3 wave correction as low as $1,220
FED looking hawkish would also promote a drop in gold .
Gold is showing signs of slight exhaustion as we complete this 5 wave WXYXZ structure showing divergence amongst the two peaks of the most recent impulse waves through the RSI .
The orange area is a fibonacci extension where price may find a deep sell off if not then, possibly now.
If price continues into the extreme level, this may fall quite rapidly.
Yellow Projection: Preferred scenario entering into the orange area for short sells.
Teal Projection: Second scenario: Moving through extreme level would suggest a price target as high as $1,285.
For more conservative sell opportunity, wait for EMA 21 to cross EMA 55 , or trend line close below.
Looking for 3 wave correction as low as $1,220
FED looking hawkish would also promote a drop in gold .
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.