Volatility in energy and metals is creating distinct Elliott Wave setups. : Currently unfolding an ABC zigzag rally . The short-term target is the extension area around $110.54 . Gold :
Traders should look for confirmation through volume before committing to a new directional trend. : Presumed to be starting wave v of 1 on the H4 chart.
Likely in a reversal phase following stalls in US-Iran peace negotiations.
Elliott Wave Outlook: Oil (CL) Zigzag Rally Targets $110 Area