Part of my ongoing analysis of Gold movements (see links below).
After a meteoric rise we might have a correction under way. Current support zone is crucial in determining trend strength. Break of this support is likely, so preparing for zones below.
1329-1330 is current support would be nice to hold. 1314-1315 is likely retrace zone which should hold. 1297-1298 is critical zone for Bulls to hold at all cost.
Previous Analysis (click):
Kommentera
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If wave C is actually underway now, then we should see a pretty strong drop soon for wave 3 of 5 that make C
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Kommentera
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Well I am happy to be wrong about the retrace. Obviously 1330 was indeed the launch pad. Gold has also give me a bonus, an absolutely beautiful example of an Impulse and it's Ripples
Gorgeous!!
Original target of 1366/67 now in clear focus, per this Idea