Pivot (invalidation): 13360.00 Our preference Long positions above 13360.00 with targets at 13487.00 & 13548.00 in extension. Alternative scenario...
Gold is favored ended the cycle from 8/16/2018 lows where the daily right side is up in wave ((3)) at the 9/4/2019 highs at 1557 and a pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1446 on 11/12/19 where the 4 hour is turning up...
The cycle in wave (W) ended at 2.0566 where the 4 hour is turning down. While below the 1.9839 highs where the hourly is turning down the pair can continue lower again to correct the cycle up from the 12/12/2018 lows...
Pivot (invalidation): 13400.00 Our preference Long positions above 13400.00 with targets at 13503.00 & 13550.00 in extension. Alternative scenario...