Gold seen in consolidation phase
|Gold is bullish on higher time frame charts where we expect a break to new ATH high, but ideally, this will occur after the current complex correction is completed. Notice that recovery from 1970 to 2070 was made by three waves, ideally it was wave B as part of a higher degree fourth wave that can be even a triangle. If we are correct then more slow and sideways price action will show up to complete the pattern, ideally still some time this month when we will start looking up towards 2100. If we are correct then 1958 and 1971 levels should hold as a support. If they are broken then the structure and trend will change.
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