Gold

Under the bearish alternate view on the intraday chart, the bearish leading diagonal could be still in progress.  The recent rise may be a fourth wave of this concept. Hence, a fifth wave of the downward sequence which may be the first wave of wave 3 is likely ahead.

Note: The overlapping of sharp waves on the current sequence, recommends considering the leading diagonal concept for decline from 1309.

Gold - Intraday

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