Gold has reached 1530 mark that I had called for, where w.5 =w.1. The wave structure looks incomplete and may subdivide to where w. 5 = .618 {w.1-w.3}.
At the daily chart level, w.(iv) terminated just above the .382 retracement of w.(iii) and the final wave up is underway. I'll be watching this market closely at the intraday level in hopes of identifying the final subdivisions and a market turn.
I hope you found this update helpful and ....
Best of Trading
Gold has made a tradeable top but the question now begs as to whether the 10 week-sma of 1463.6 or 1454.8 50-sma will act as support and whether we'll see five waves down. As of the close, w.iii down appears to be complete or nearly complete.
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