According to the bearish alternative :

Under the bearish alternate view on this frame of daily chart , after completing the contracting triangle wave (4) at terminus point of 1352, Gold fell down in the five-waves sequence which could be only first wave of wave (5), and the rise up from low of 1133 through last peak at 1309 in a three waves, could be corrective wave 2 .

Currently, the neat ongoing five-waves sequence down, as first wave of an impulsive wave 3 likely in progress, could has been completed. And so, its correction in a three waves will ahead.

Gold - Daily


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