Gold is trading bearish from 1325 level, where a higher degree wave B/2 found resistance. Current impulsive price action we see as a five-wave drop in play, which can be targeting area below the 1285 levels. That said, at the moment we see corrective wave 4 within a downtrend unfolding, which can unravel a triangle correction and can also be trading in final stages. A triangle is a continuation pattern, so once it fully develops that is when a new and final leg in the direction of the trend may follow. In our case, this is to the downside.
GOLD, 4h
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