Gold

After topping at 1219.5, as the extreme point of impulsive wave (a), it appears the corrective wave (b) has begun its way down. A close target for the correction down is 1187.6.

Note : I’ve adjusted counting the wave (a) to an impulsive wave. Because, advance in the wave (a) to near the Fibonacci 0.50 retracement level, conceptually indicates a smaller wave (c) through the Fibonacci 0.618 level at 1245.

Gold - Intraday 360Gold - Intraday 120

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