Could a possible fractal be building in Gold (XAU)?
If yes, we should expect the ongoing rise in gold to reach the 1,195 - 1,196 area ending black circle 5, from where a serious decline to around 970 should begin, which would end minor black circle 6.
Please be aware, that the chart is a semi-log chart, so the two rectangles are close to be equal in points size, whereas the purple has only taken about half the time the organge did.
A clear break above 1,196 would call for a move higher towards 1,300.
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