Gold

The bearish outlook :

Gold may have completed an overlapped wave (i) then its correction in wave (ii), and begun to fall in impulsive wave (iii) of iii(circled).

The outlook is bearish against the 1209 area, towards the immediate target at 1142.7. The next target is 1101.7, where the wave (iii) equals 2.618 times the length of wave (i). The broader target is through 1057, where wave iii (circled) = i (circled).

Gold - Daily

 

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