GOLD

Zaktualizowano
In this monthly chart I see a potential corrective abc formation that - for the blue c, most likely could reach 1.618% ($1430.81) of the blue a, but I've placed the target a bit lower @1412.30, which won't be reached until next year.
As can be seen from the chart, before the mentioned target, the red (b) should be headed for, which could also be the annual high for 2023.
Remark
I emphasize that with the high of August 2020 I have defined the completed 1-5 superordinate waves and accordingly I have placed the red arrow (right) indicating that if next year $1412.30 breaks down (monthly candle closes below), much lower rates will be the natural result.
If, contrary to expectations, there is a direct rise above $1974.40 on a monthly basis next year, then I will have to redefine the situation.
Uwaga
BIG PIC
snapshot
Trend Analysis

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