GOLD: 15 AUG, 2024 | Prepare for Bullish
© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M.
Wave (4)-orange seems to have just completed at the low of 2,437.97, it has also achieved the common retracement ratio of 38.20%, this 4th wave is precisely developing as an Expanded Flat.
I guess wave (5)-orange is opening up to push higher, targeting around 2,492.33. While price must remain above the low of 2,437.97 to maintain this view.
Wave (4)-orange seems to have just completed at the low of 2,437.97, it has also achieved the common retracement ratio of 38.20%, this 4th wave is precisely developing as an Expanded Flat.
I guess wave (5)-orange is opening up to push higher, targeting around 2,492.33. While price must remain above the low of 2,437.97 to maintain this view.
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