Gold Futures Trading Chart – Bullish Setup
The pullback in the price of gold appears to be quite orderly.
In fact, I believe that gold is in the process of making an Elliott wave 4 low, which should lead to another leg higher.
The recent reversal higher has triggered that potential trade setup and follow through buying will confirm a wave 4 low.
As long as the 5/35 oscillator doesn’t dip below 41.70, it appears that the next rally leg is on.
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