Gold has been the safe haven investment for a Long time, and now nothing is different, the market is targeting new All-time highs!
As we can see on the chart below, wave (iii) has found the top around 1418 region in the past week from where prices moved lower, but only into a wave (iv). Wave (iv) is a corrective wave, which means that bulls should continue into a higher blue wave (v) in this week, since we are monitoring an impulsive continuation from 1308 lows! But meanwhile gold prices must stay above critical 1367 support, as we know that wave (iv) must never trade into a territory of a wave (i).
Guest post by Gregor Horvat.Get the 5 most predictable currency pairs