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12-08-2022

The gold price is trying to perform a downward reversal, and it is possible that the development of the first pattern in the form of a 5-3 down formation is completed at the lower degrees.

If the current assumption continues to receive support, then fixing the price below the confirming level may resume pressure on the value of gold.

It is also still worth understanding that the height of the current growth is still very alarming, as it may lead to a significant change in the structure of price movement, although it may not cancel the expectations of updating the minimum of 2021.

Xauusdh1 5Xauusdh4 5

11-08-2022

The gold price has updated the local maximum, having fulfilled the minimum conditions for completing the corrective growth wave as part of the assumed downward diagonal, and it is possible that the development of the first pattern in the form of a 5-3 downward formation has begun at the lower degrees.

If the current assumption continues to receive support, then in the near future the price of gold can confidently resume its downward movement.

But, just as before, it is worth understanding that the height of the current growth is still very alarming, as it can lead to a significant change in the structure of price movement, although it may not cancel the expectations of updating the minimum of 2021.

Xauusdh1 4Xauusdh4 4

10-08-2022

The gold price has updated the local maximum, having fulfilled the minimum conditions for completing the corrective wave of growth as part of the assumed downward diagonal.

If the current assumption continues to receive support, then in the near future, perhaps after updating the local maximum, it can confidently perform a downward reversal.

But, just as before, it is worth understanding that the height of the current growth is still very alarming, as it can lead to a significant change in the structure of price movement, although it may not cancel the expectations of updating the minimum of 2021.

Xauusdh1 3Xauusdh4 3

09-08-2022

The gold price continued to move up, and it is possible that the formation of an upward correction as part of the assumed downward diagonal is being completed.

If this assumption is supported, then after the completion of the corrective growth, the value of gold can perform a confident downward reversal.

But, just as before, it is worth understanding that the height of the current growth is still very alarming, as it can lead to a significant change in the structure of price movement, although it may not cancel the expectations of updating the minimum of 2021.

Xauusdh1 2 Xauusdh4 2Xauusdh4 2

08-08-2022

The gold price continued to move up, and at the moment it is advisable to consider a scenario according to which the final part of the medium-term correction may take the form of a diagonal.

If this assumption is supported, then after the completion of the corrective growth, the value of gold can perform a confident downward reversal.

But, just as before, it is worth understanding that the height of the current growth is still very alarming, as it can lead to a significant change in the structure of price movement, although it may not cancel the expectations of updating the minimum of 2021.

Xauusdh1 1Xauusdh4 1

2022-08-06

The gold price continued to move up, and at the moment it is advisable to consider a scenario according to which the final part of the medium-term correction may take the form of a diagonal.

If this assumption is supported, then after the completion of the corrective growth, the value of gold can perform a confident downward reversal.

But, just as before, it is worth understanding that the height of the current growth is still very alarming, as it can lead to a significant change in the structure of price movement, although it may not cancel the expectations of updating the minimum of 2021.

Xauusdh1Xauusdh4

2022-08-06

Considering the daily price chart, it is possible that at the moment the development of a corrective wave of decline in the state of a large diagonal upward is coming to an end.

If the current proposal receives support, then for the confident completion of the model, it is necessary to form a series of new, local minima, after which we should expect a resumption of the global upward trend.

Xauusddaily

2022-08-06

The gold price has almost reached a local minimum, but without updating it, it performed a relatively significant pullback upwards. Unfortunately, this fact does not yet allow us to say with any degree of confidence about the choice of a long-term model.

But, despite the complexity of defining the model, the formation of a new minimum in 2021 will be a more acceptable sign for the resumption of the global upward trend.

Xauusdweekly

2022-08-06

The situation for gold remains virtually unchanged, that is, the price within the framework of the previously indicated scenario on intraday degrees is completing or has already completed a corrective pullback, and it is likely that in the near future the global trend will continue and at least another new historical maximum will be formed.

That is, despite the fact of the presence of a variety of scenarios, most of which it makes no sense to place on the chart, we should expect the continuation of the global upward trend.