With gold prices still on the rise, reaching the Fibonacci 0.618 retracement level of wave 5, the next expected move is an ABC correction wave. Traders should closely monitor for signs of this anticipated correction pattern in the market.
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Gold prices have remained relatively stable this week, with minor fluctuations observed in response to economic data releases and geopolitical events. The precious metal continues to attract investors seeking a safe haven amid lingering uncertainties surrounding global economic recovery and inflationary pressures. Additionally, central bank policies and interest rate decisions play a significant role in influencing gold price movements. Traders closely monitor these factors along with technical indicators to gauge the direction of gold prices and adjust their trading strategies accordingly.
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Just as I predicted, wave 5 ran to the 0.618 fibonacci zone and then turned around
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I think I finished running on the morning of 5, the price is ready to run to point A
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