About Gold
Gold has always played the role of a safe asset in times of war and financial crises. The demand for gold is constantly increasing, especially in the last few years when central banks are increasing their gold reserves, which is the reason for the increase in financial and geopolitical crises.
Gold Forecast by NEoWave
After a 3-year correction period from September 2011 to January 2016, Gold began to grow and in the first wave it was able to grow to $1375.
As it is clear in the picture, wave (A)-(B)-(C)-(D) is complete and we can check the internal structure of these waves. Considering that the internal structure of the waves is correction, then the higher degree pattern will definitely be correction. Looking more closely at the waves, it is clear that the waves have price and time similarities, so we can say with high probability that the higher degree pattern will be a Diametric pattern and we are currently in wave (E).
Assuming that the diametric pattern will be diamond type, wave (E) can move up to the range of 2793-2864 and then wave (F) will be formed.
The point that we should pay attention to is that considering that wave (D) is a Running Neutral Triangle pattern, there is a possibility that wave (E) will go beyond the price range I mentioned. The range of 2793-2864 is the first and minimum target of wave (E).
Good luck
NEoWaveChart
