Gold remains in a strong and impulsive five-wave bullish cycle on a daily chart.
There’s space for more upside, but we will just have to be aware of a higher degree wave IV correction still this year, possibly in Q4.
Why? Because we see a move out of a triangle here in the fifth wave of III, so we know that the final trust within higher degree extensions, meaning there can be limited upside in weeks ahead, ideally around the 2600-2700 area.
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Grega