A little downwards movement was expected to a short-term Elliott wave target about 1,232. Downwards movement for the session reached 1,233.44, just 1.44 short of the target.
Upwards movement is continuing for the week exactly as the Elliott wave count expected.
Price has moved higher exactly as the preferred Elliott wave count expected for Gold.
A small range week leaves all Elliott wave counts valid. The target on the preferred Elliott wave count remains the same.
Upwards movement was expected to resume for Thursday’s session, which is what has happened.
A pullback was expected to end about 1,209 and then be followed by upwards movement. The pullback has ended at 1,211.24, just 2.24 short of the target. This is now being followed by a strong upwards session.
A continuation of downwards movement was expected for the short term. With the 0.382 Fibonacci ratio passed, the 0.618 Fibonacci ratio is a new target.
Downwards movement was expected to begin the new trading week. An inside day closes red, which mostly fits expectations.