Gold

The sharp retracing to the Fibonacci 0.5 level, could be only initial move of the correcting in three waves as Minute wave ii (circle) or b (circle).

As shown on the charts below, the Minor wave C might trace out in an impulsive five-wave or three-wave sequence, to develop Intermediate fourth-wave (not shown) as a “flat” or “triangle” correction.

Gold - DailyGold - Daily1

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