- 1190 is a very important support.
- A wave V down could be missing. (wave III was 600 USD, the maximum move down could be the same from 1431)
- If 1190 is broken, Gold may fall as low as 831 in Mar 2015 where it would be a multi year buy
For now, watch.
It will be interesting to see how Gold behaves if there is a meltdown on equities. It is not guaranteed that it would take a safe haven role in a deflationary induced correction....
I am more interested in the subsequent buy.