Gold has turned down from 1345 resistance
area where we see a completed five wave rise from 1251 level, which was the end
point of a triangle. There are chances that market accomplished wave (c) that
is a part of a huge zigzag from 1181 low. Notice that price also moved beneath
1251-1307 trendline that suggests further weakness in the short-term, probably
back to 1307 area of a former wave iv).
GOLD 4h Elliott Wave Analysis
Written by www.ew-forecast.com
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