XAU/USD: Elliott Wave Analysis and Forecast for 15.05.26–22.05.26

From litefinance.org

An ascending fifth wave of larger degree 5 is presumably developing on the weekly chart, with wave (3) of 5 forming as its part. The third wave of smaller degree 3 of (3) appears to continue forming on the daily chart, with wave v of 3 developing as its part. The H4 time frame shows that wave (i) of v has formed, a local correction (ii) of v has been completed, and wave (iii) of v is unfolding. If the presumption is correct, XAU/USD will continue to rise to 5,610.00–6,000.00. The level of 4,493.40 is critical in this scenario as a breakout below it will enable the asset to continue declining to the levels of ... (full story)