FX.co ★ Elliott wave analysis of Gold for July 14, 2022

Gold is now in the final stages of the decline from 2,070. We could still see a minor consolidation followed by a dip towards the ideal target at 1,677, but wave 5 of C is getting exhausted and the final low could be seen anytime now. The first real strong indication that gold has bottom is seen upon a break above minor resistance at 1,805, while a break above resistance at 1.879 will confirm the completion of wave C and the onset of wave 5 towards 2,400 and 2,700 as the next upside targets.