Gold hit a clear resistance and very likely a top from some time. Fundamentals of Brexit and Trade Wars seem to be "less uncertain". Technicals were screaming of a top and some pressure has escaped.
$ 1530 would be a strong bounce and the max imaginable. $ 1525 more likely to act as resistance for wave 4 to end.
$ 1500-1502 seems every likely to be tested soon. $ 1490-1493 plausible as stop hunt under 1500 psych.
Previous Gold Analysis (click): <= 5 mos ago
Of course, I have had total FAILS on some ideas too, not going to pretend. But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
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Moving about as expected this far.
Zoomed in and with the Green Fib added, we see a pretty well structured rise and decline Almost made it to the 5.236, which is actually pretty bullish compared to my previous thoughts.