Probable major gold trend reversal

FX:XAUUSD   Gold Spot / U.S. Dollar
46 3 2
In spite the overwhelming bearishness in the gold             market, I have the feeling that maybe this corrective cycle since 2011 has seen it's lows. The extended (A)-(B)-(C)-(D)-(E) Elliott waves appear to be complete, unless the latest z sub-wave is composed of yet another extended sub-structure of the a-b-c-d(now)-e(future) type.
For the sake of completeness, I will include the daily chart with the trend options.

cfetrader cfetrader
Details of option (2), if the ending wedge (otherwise called "bearish pennant") is breached.

cfetrader cfetrader
Following the gold price bounce at the lower wedge line, option (1) comes into play. Possible future targets are :

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