GOLD: A Corrective Pause, Lower Prices To Come

7月22日

Gold moved to new ATH as expected after price action from the last two months looked corrective. It was the fourth wave, ideally a triangle so that push higher, up to 2480 was a fifth wave of an extended III, now already done because of a sharp turn south last week. It looks like an intraday impulsive bearish reversal so more weakness can be coming, ideally down for a new higher degree wave IV. In such case, I will be tracking an A-B-C decline back to 2300-2340 area.

GH