Gold managed to rally through $1756 today, in-line with wave counts, before reversing lower again. Also note that the yellow metal hit convergences of trend line resistance , fibonacci 0.382 retracement of the drop between $1876 and $1676 levels respectively. This could be marked as potential Wave 4 termination and if correct, the metal is heading lower towards $1550 and beyond. Having said that, probabilities remain for yet another rally towards $1775 before turning lower again.
Remain short against $1965, towards $1550
Remain short against $1965, towards $1550