Gold In For A Minor Correction; Later Could Reach For 1.322
Gold is still on the uprise from recent blue wave iv swing at 1278 level. We are tracking an impulse labeled as blue wave v and we are now already above 1.300 mark. In the next few sessions we will look for a corrective pullback in red sub-wave iv) and afterwards a continuation higher to around 1.322 region for a completion of a bullish cycle.
Gold, 30Min
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Great chart! I'm waiting for a pullback to possibly buy a July call spread on GLD. Hopefully the Brexit panic will give gold a good pop to the upside over the next few weeks. I would not want to be a chaser after a $30-40 jump, though.