The pattern is still bullish, in the sense that you have higher lows, higher highs. The market hasn't been able to break out of that.
The good news: An Elliott C wave is powerful and it doesn’t need to end in the $3000 area. It could continue to $3500 or even $4000.
So when I look at the swing line, you still have higher lows and higher highs in place—that is bullish.
Goldman Sach has increased near-term gold price targets to $3100 and $3300 respectively.
The price of gold also moved higher this past week, set for its seventh weekly gain, amid uncertainty around trade and the global economy following President Trump’s reciprocal tariffs.
Our current projected endpoint for the end of wave -iii- is 3199.90! Trading Recommendation: Go long gold. Use puts as stops.
Gold is continuing its upward march and we see no signs of a top forming.
The market's in what we call, at least what I term, a distribution channel. For the pattern, you still have higher lows and higher highs.
Overall bullish trend will not change in gold, silver, and even copper.
Some have speculated that the threat of tariffs from the United States could lead to shortages of deliverable gold and silver on the COMEX...
