gold current retracement level

6 apr 2023

based on Elliot Wave principle, wave 4 can't enter the price territory of wave 1, and refer to the EW alternation guidelines the retrace of wave 2 was a moderate. so combining those two guidelines rule we summaries that wave 4 will be a shallow retrace, around 0.236 Fibonacci level, that means the current price will maximum reach down to 1980$ or even less.

all the best