Gold

Correcting Down :

As noted in the prior daily post, the current pullback may be tracing out a simple zigzag as the Minute waves b (circle) or ii (circle). This correction will amount to Fibonacci 0.618 retracement level of the impulsive advance from 1072 low.

Based upon the broader bullish view in short term, the Minor wave C could be unfolded in a three-wave or impulsive five-wave sequence, to develop Intermediate fourth-wave (since the November 7 low) as a “triangle” or “flat” correction.

Gold - Daily1Gold - Daily

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