GOLD: weekly wave analysis
Daily. Gold continues developing within the sloping triangle within which we are seeing formation of the final part of the wave [D]. When this wave is complete, the market will start new upward correction [E]. Let’s analyze the chart in greater detail.
H4. When the wave was over [iii], the market started developing a small correction [iv]. The price will spend in this wave the whole day and probably some of the next days as the fourth wave may take form of a prolonged flat. When this wave is complete, we'll see the final decline within the downward impulse [v]. The approximate trajectory of the upcoming move is shown at the chart.