Gold- Looking to slip below 1347$ to 1325-1330$

Gold could move sharply down in 3rd wave once it slips below 1347$ & later going below 1340$-shall put more pressure. We shall look for an equality target of 1325-1330$ first below 1340$ as support zone - likely it should travel atleast that much but usually 3rd waves travel 161.8%-of 1st waves -which comes in the zone 1305$-1310$.

Regards,
Abhishek H.Singh,CMT

Trade active:

00:20 Hrs-IST-17th Aug2016

Gold -Latest Update: in.tradingview.com/chart/GC1!/VP8NyLyJ

Regards, Abhishek