XAUUSD: Elliott wave analysis and forecast for 24.11.23 – 01.12.23

Main scenario: consider short positions from corrections below the level of 2008.75 with a target of 1910.48 – 1889.05.

Alternative scenario: breakout and consolidation above the level of 2008.75 will allow the pair to continue rising to the levels of 2060.00 – 2110.00.

Analysis: a descending correction appears to have formed as the fourth wave (4) of larger degree on the daily chart. The fifth wave (5) is unfolding, with the first wave 1 of (5) formed as its part. A downside correction is presumably completed as second wave 2 of (5) on the H4 chart. The third wave 3… Read full author’s opinion and review in blog of #LiteFinance