Gold Triangle Structure Intact: Wave E Underway?

20 ago 2018

Gold, daily chart view presented here is suggesting that the overall triangle structure looks to be intact. As seen here, the probability of wave D having terminated at $1160 looks true. The contracting triangle formation since December 2017, could be well into its last wave E as highlighted here. If this holds good, we could see the yellow metal rising through $1250/70 levels in the coming weeks. According to the fibonacci correlations among waves within the triangle, wave E could be 61.8% of wave C, which is $1270. Until prices remain above $1160, probabilities remain on the north side.

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