Gold is moving sharply lower, away from 1337 swing high where market might have found a temporary top if we consider a very strong sell-off which looks like an impulse. As such, the updated wave count, labeled as wave X high at 1337 belongs to a combination of two zigzags in wave B)/II) that can be underway down to 1150/70 area. In the meantime, be aware of a bounce up in wave B, but after completion of wave A near 1200 mark.

GOLD, 4H