GOLD Elliott Wave Analysis: Short For 1175

Gold has turned sharply to the downside in the second part of December which has been expected after only three waves up to 1267, labeled on the chart as a)-b)-c) zigzag. Recent decline from 1267 and 1251 was very sharp and directional that has already fallen to a new low so we believe that red wave iii) is in progress, that could be targeting 161.8% Fibonacci extension level at 1175 after black wave iv pullback. More at ew-forecast.com | 14 Days Trial Just For €1 ew-forecast.com/register