Gold

Bullish Outlook :

The Minute degree correction – exceeding the Fibonacci .618 retracement level – could have ended at Friday’s 1097.7 low. (tracing out the waves b (circle) or ii (circle) in entire zigzag)

Based on the wave counts presented on the charts below, the Gold’s trend will soon change to up again, to unfold an impulsive advance in Minute degree. (the waves c (circle) or iii (circle) of Minor C advance)

Note : A break of the Minor B wave low at 1072.6 would rescind this Bullish view.

Gold - Daily1Gold - Daily

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