Gold still in a bearish trend

FX:XAUUSD   Gold Spot / U.S. Dollar
gold             still in a bearish trend and soon he will finish wave 5 and than we can see a bullish reaction. Last week we just broke the triangle (wave 4) and we are now going lower with target around 1,083 (0.50% fib of the record low and record high). Also watch the trend line (blue line) which is working very strong as support.

Also keep in mind that this is a long term view, if you trade short term, this is not ideal for you.
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