Price remains within the channel on the hourly chart and the flag pattern remains valid. Price has breached the short-term invalidation point on the hourly chart but remains below the invalidation point on the daily chart.
A bounce on Friday remains below the short-term invalidation point for the hourly Elliott wave count. The mid and long-term targets remain the same.
A short-term Elliott wave target for upwards movement to end was calculated yesterday at 1,318 to 1,322. Upwards movement continued to a high at 1,319.80.
The flag pattern may continue, and the target calculated remains the same. Price remains below the invalidation point on the daily Elliott wave chart.
Price remains below the short-term invalidation point. Both short-term Elliott wave counts remain valid.
A flag pattern is identified for Gold. A target is calculated using the flag pole.
A little upwards movement remains below the invalidation point. A new short-term Elliott wave count is considered.
Price remains below the invalidation point and the channel on the daily chart. The Elliott wave count remains the same.