Gold a possible Ending Diagonal (Elliott Wave Analysis XAU USD) 12th April 2017 onwards

The current wave progression seems to be moving in 3 – 3 Wave formations which can be considered as an Ending Diagonal, also a point worth noting here is that the Wave 1-3 and Wave 3-5 have 1.236 Fibonacci relationship which further supports the count.


Gold a possible Ending Diagonal in progress

Gold a possible Ending Diagonal in progress 12th April 2017 onwards


If this formation is actually and Ending Diagonal then there should be most probably a retest of the upper trendline or a possible breach and then a strong sharp fall should be seen which can take Gold till 1240 levels.

I will update further as this market progresses.

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