Gold

The bearish outlook :

After developing a series of the sequential degree first and second waves, { 1 – 2, i – ii (circled), (i) – (ii) }, Gold has poised to fall in impulsive wave (iii) of iii (circled) of 3.

The outlook remains bearish now against the 1215 – top of the wave (ii), towards the new lows.

The immediate target is 1133.4, where wave (iii) equals 1.618 times the length of diagonal wave (i). The next target is 1083, where wave (iii) equals 2.618 times the length of diagonal wave (i).

Gold - Daily

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