Potential gold bull cycle

FX:XAUUSD   Gold Spot / U.S. Dollar
220 2 2
Provided the rounding bottom curve supports any future pullbacks, there is a good chance that gold             has embarked upon a directional shift, most likely a B-type ( bullish ) corrective cycle. This directly implies that the overall price motion since 2011 could be classified as an A-type ( bearish ) corrective cycle. Short term major resistance may be found in the range 1200-1230, whereas an annual target can be identified through the bullish Wolfe wave formation (~1400). B-waves are usually strong, and therefore ultimate targets above the previous highs are possible (for instance 2000+).
if you look hard enough you will start seeing mermaids on that chart!
There is another bullish pattern hidden within the gold price oscillations apart from the Wolfe wave, and this is the Three Drives pattern.

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