Gold's Break Above $1800 Opens the Door to $1920

The Elliott Wave analysis for gold is bullish on the recent move above $1800. This price movement suggests the crash low on August 8 was a 'C' wave. A new wave higher has begun that will most likely terminate above $1920.

So far, gold is building a nice impulsive wave. Prices may scoot straight up to $1920 OR pause first around $1840 before extending its run to above $1920.

Either way, the Aug 8 low is likely to hold and any corrections are planned to be partial retracements.