Gold

As shown in this daily frame, the Gold sustains to develop its waves of Minor degree around the $1186-$1200 range.

Based on this adjusted wave count, It seems that an immediate decline still lies ahead (prior to the end of Minor wave D). Then, the trend will likely reverse to higher and rally in Minor wave E thereafter.

The Minor wave B’s low at $1142 level, must hold for this entire analysis on Intermediate wave (4), as a triangle formation, to remain valid.

Note : The fourth-wave developing is shown on this chart, just by labeling its sub-waves of Minor and minute degrees.

Gold - Daily

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