Further downwards movement continued as the last analysis expected.
Last Elliott wave analysis expected upwards movement from Gold to begin the new week, which is exactly what has happened.
Upwards movement continues exactly as expected. The target remains the same.
A little upwards movement was expected but price fell $8 short of the target.
The target, which has not been met, remains the same.
Price moved into the target zone, which was 1,197 to 1,192, and then turned upwards to print a green daily candlestick.
Sideways movement was expected. In the short term, some downwards movement within a consolidation was expected for the session, and this is what has happened.
Price has moved higher to complete a green daily candlestick, as expected for the main Elliott wave count, but so far it is concerning that volume has not supported this movement.
A little more downwards movement was expected for Monday to a small target zone at 1,319 – 1,322.
The low for Monday is at 1,320.94, right in the target zone.
Upwards movement confirmed the main Elliott wave count and invalidated the alternate.
I have three daily and hourly Elliott wave counts today.
Downwards movement was expected as most likely for yesterday’s main Elliott wave count.
Gold has broken out of a consolidation upwards exactly as expected.
The first hourly Elliott wave chart was invalidated with a new high above 1,236.56 confirming the second hourly Elliott wave count.
The second wave count expected upwards movement to 1,244. So far price has reached 1,243.19.