The updated chart on Gold is showing us a bigger bearish impulse in the making, labeled as blue wave C. As we can see on the chart, sub-wave 4) had already unfolded at the 1256 level, which means drop from there can now be final wave 5) of C. If that is the case, then we expect a five wave development to follow within the mentioned wave, ideally to around 161.8, before a new three wave recovery can take place.
Gold, 4H
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