It looks to me that Gold
is stuck in a channel. In the short term believe Gold
has some room to the upside. Roughly the 1276 area. After that it will go down to make another new low in this longer term correction. Appears to me that every larger correction so far has been a complex WXY with the "Y" wave being a simple ABC
. Speculating that this large correction down will simulate that as well. This chart is a Rough guess as to what could possibly happen.