Gold: wave analysis
by Roman Petukhov
Weekly. it has long been expected that the global downward correction  development would be complete, and now, judging by the latest movements, this wave is fully complete. The last section is marked by the formation of a new upward impulse  beginning.
Daily. The first two waves of the upward trend 1 and 2 have been formed. At the moment, development of a new upward wave 3 is taking place. We are expecting further growth of the pair in the near future.
H4. Wave (5) of  turned out cut off, therefore the bears failed to reach the low, formed by wave (3) of . Right after that, we witnessed a surge of the price within impulse 1 and correction 2 towards it. At present, a powerful trend 3 is being formed; furhter price growth is expected in the near future.