Gold is running out of real estate if the bears are going to take over. Using Elliott Wave as our guide, let’s look at a bearish perspective that suggests gold could collapse harshly. This view could see gold fall into the 1500’s. However, if gold rallies, then this bearish count becomes severely hampered shifting focus towards the bulls. If gold rallies above $1800, then the likelihood of the collapse lessens.
A rallied above $1800 suggests gold prices may continue higher to above $1920 and possibly higher levels.
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