Bullish Outlook :

Gold continued its upward push, carrying to the 1168.6 intradey high today, that indicates advancing in Minuette-degree third waves in either count.

Short-term, the outlook against 1147.4 is bullish to the 1255 area where Minute-degree third waves would achieve a Fibonacci 1.618 expansion level of the first waves of the same degree.

Technical note : With respect to the entire pattern(developing in Intermediate-degree trend) as a “Running triangle”, we could not determine extreme of Minor wave C based upon ratio which establishes with Minor wave A.

Note: I’d appreciate my mentor’s great advice on Minute-degree wave down (1169 to 1097), as a completed correction.

Gold - DailyGold - Daily1

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