GOLD

Spectrum.

Weekly. Turn bearish till the end of 2021.

Daily. Stay bearish till the end of the month.

Annual cycle analysis.

Stay bearish this week. The first bullish bounce is expected from the 25th of Aug.

Turning points analysis.

Price may find support at the scope of levels depicted.

Elliott waves analysis.

Bearish reversal for a long-run is expected. Intersection of 1813 level would support further decline development.

ZZ structure.

L-1. The ZZ is still bullish, but is close to turn into bearish via decline below confirmation level 1862.

L-2. Crucial level of bullish blue ZZ sequence was violated. It means that the ZZ turned into bearish. Moreover, it coincides with higher dark blue ZZ. This means that dark blue ZZ decline will be developed further and its first lower marker wasn't set yet.

L-3. Wait for green ZZ turn into bearish to trade it by enter at crucial level (currently 1906).