Gold big picture: 2400 was "a" top? One more push to 2700 ?

We appear to be in an Elliott "Wave 5".
Wave 5's in commodities tend to extend.
Likely a pullback first then next/last leg?

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Here is a Near-Term plot of possible retrace to $2307

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Yorum:

Retrace as expected

Zoom in (h1)

We were expecting a shallow retrace to 2307.19,
so far that is what we have, albeit after piercing,

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Zoom in more (m5)

We got many Pings on the fib before launch.
"Ping" as in "Give me a ping Vaislly, One Ping Only".
This pings energize and alert all of the sister fibs.

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Adding local fibs including one for our bounce:

We are currently at a significant resistasnce,
a good spot for possible end of this wave up.

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SUMMARY:
- Proceeding exactly per out plan thus far.
- Currently at a resistance that might pullback.
- Whether we get new highs or not is not clear yet.

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