Gold

The bearish outlook :

On the primary degree wave A in the late stages, Gold may have started to fall in a minor degree third wave of an extending wave (5).

The outlook remains bearish against the 1307.8, towards the 957.7 where wave 3 equals 1.618 times the length of wave 1.

The broad target, as extreme point of the wave (5), could be around the 950 level where wave (5) = wave (1) – a common relationship.

Gold - Weekly

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