Gold: Dolphin 🐬

Like a playful dolphin, gold has jumped above the resistance at $1770, only to dive right back into the blue zone between $1751 and $1709. Now it has to decide whether it wants to do some more tricks in the water or has already completed wave (ii) in blue. As soon as it has finished the counter movement, though, gold should climb out of the blue zone and above the resistance at $1770, thus confirming the upwards movement. However, there is a 38% chance that gold could leave the blue zone on the lower side and drop below the support at $1709. In that case, it should continue the descent below the next mark at $1678 and into the green zone between $1661 and $1585 first, before rising again.