XAU/USD: Elliott Wave Analysis and Forecast for 06.12.24 – 13.12.24

From litefinance.org

Main scenario: Consider short positions from corrections below the level of 2723.47 with a target of 2418.82 – 2304.21. A sell signal: the price holds below 2723.47. Stop Loss: above 2730, Take Profit: 2418.82 – 2304.21. Alternative scenario: Breakout and consolidation above the level of 2723.47 will allow the asset to continue rising to the levels of 2880.00 – 3000.00. A buy signal: the level of 2723.47 is broken to the upside. Stop Loss: below 2715.00, Take Profit: 2880.00 – 3000.00. The fifth wave of larger degree 5 is presumably developing on the weekly chart, with wave (5) of 5 forming as its part. ... (full story)