After seeing classical price action for a traditional correction (from an Elliot waves perspective), the commodity started a trendy price action to the upside. It looks like that the top for these three impulses is finished, and a correction has begun. The price objectives for this correction are based on Fibonacci levels (0.382 - 0.618). Overall, once the correction finishes, higher prices have to be expected if GOLD trades above 1732.6 USD.
Together, we will find if this trendy price action may correspond to the first wave of a more significant three impulse waves.