Gold turned sharply lower the past week from 1295, clearly in impulsive fashion so it appears that metal is headed into much deeper levels within a correction of a higher degree. On the updated chart we are looking at an A)-B)-C) decline in progress down to 1258 area, or possibly even back to 1245 before market may look for a new bounce; most likely at the end of the month.
Gold, 4H
If you like our Elliott Wave analysis, then you can also check our latest video analysis on GBPUSD, EURUSD and USD Index. Click here
https://www.youtube.com/watch?v=wRZgeCOo03E&feature=youtu.be
