This mornings spike lower finished the 5 down of the abc, 5-3-5, correction to complete minuet (ii)...look north now for a sharp rally which would be a 3rd of a 3rd to near completion of this large scale bear market rally...this leg should take GC to ~1595 - ~1400 before the next minuet correction (iv)...
Comment:
(B) of this primary ABC correction has morphed into a triangle rather than terminating and beginning (C) upward. See my updated analysis on gold to see my updated forecast.
Let's see what shape (iv) of (C) takes. If it's a triangle then we can refine our final upward target for (v) of (C) before looking for the deep slide in gold as the primary bull market resumes...