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3/14 Gold Update

Lookback

Gold does seem to have completed its wild run up fueled by news headlines. Last week's outlook was overrun by the price, however in the big picture of things our prognosis might be pretty close.


Gold, 4hour

https://www.tradingview.com/chart/XAUUSD/XIGv0M0h-Gold-Update/


This Week

This week we used a chance to revisit past price action from Aug 2020 high and came up with a more logical and simpler interpretation (always a good thing). You can see a neat expanding ending diagonal in wave W on the chart below.


Gold, Daily

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