Gold is in a five-wave recovery, up from 1704 swing low. We specifically see price ending a wave 3 of a higher degree at the 1779 level, from where intra-day weakness suggests metal to be trading into a wave 4 correction. Support for a possible a-b-c move in 4 can be at the 1750/1745 zone, where Fib. Ratio of 50.0, and where former corrective wave iv can react as support.
Gold, 1h
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