In my view, TA Gold did not complete its down wave before resuming up. Currently, Gold is retracing up with a maximum squeeze to 1860-1874; then the impulsive down wave up to 1564. This 1564 has a double confluence: last break up and AB-CD pattern.
This scenario will be canceled if the current move up closes above 1912.
FA, the current Inflation narrative/story is fueling the retrace up to 1860, but the fact that FED/ECB and may be all other CBs are considering it as temporary/transitory to justify NO tapering in 2021 will give the greenlight for Gold to complete its impulsive wave down to 1564.
When CBs change their views on Inflation from temporary to sustainable and start tapering in 2022, Gold will seek the Moon.
This scenario will be canceled if the current move up closes above 1912.
FA, the current Inflation narrative/story is fueling the retrace up to 1860, but the fact that FED/ECB and may be all other CBs are considering it as temporary/transitory to justify NO tapering in 2021 will give the greenlight for Gold to complete its impulsive wave down to 1564.
When CBs change their views on Inflation from temporary to sustainable and start tapering in 2022, Gold will seek the Moon.
