Possible Elliot Wave Count - XAUUSD

As per the Elliot wave analysis, there is a possibility that XAUUSD completed the long term wave 5 at 2073. If the wave count is correct, XAU could be in the middle of wave A of the corrective phase. There could be some support around 1600 and 1300 levels. Gold could drop to levels of around 1050 before completing the multi-month corrective phase.

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