As a market runs, it eventually stops hitting that band and backs away, and it goes into what we call a pause or a correction; maybe that's beginning right now.
We are thrusting higher in wave $v$, which has a projected endpoint: $v$ = 1.618(2431.50-1973.10) = 3035.50. We expect higher prices as the thrust higher continues.
With the inflation scare in the air, Gold duly dropped as it needed to so do anyway, price as below shown arriving smack on the ascending regression trendline from one year ago-to-date per the weekly bars.
US President Donald Trump has ordered an investigation of copper imports in what is a first step toward potential tariffs on the metal. The US is already a major copper producer...
Goldman Sachs raised its year-end target for gold to $3,100 an ounce, citing central bank buying, and predicted it could reach $3,300 if economic policy uncertainty persists.
