Expect gold to run lower in 2017. We're inside a larger wedge, -a possible wave A of a bigger ABC correction on the monthly timeframe. Upswings should as I see it now only be seen as temporarily corrections. The closer we get towards the apex of the wedge, a breakout upwards will be likely.
Next level to see how price behaves now is 1171, fib 0.382 of the current down-leg.
Next level to see how price behaves now is 1171, fib 0.382 of the current down-leg.
Comment:
Looking for reverse at soon apporaching fib 0.618
Looking for reverse at soon apporaching fib 0.618
Structure viewed on the monthly timeframe