10TH FEB 2021 Gold weekly analysis

Normally I put up the analysis on a weekend . However the situation required a special ‘POST’

What we have above is a double zigzag, as known in elliot wave theory. Normally we have a maximum of two zigzags. However at times we can have three too.
Therefore there is a good possibility of gold having touched bottom.
However before investing in gold , please take due precautions and remember this is only  a technical analysis of the precious metal.