GOLD Elliott Wave Analysis: Looks For ABC Correction

FX:XAUUSD   Gold Spot / U.S. Dollar
1186 0 1
Gold             fell to a new low on Tuesday but then reversed significantly from 1181 which means that decline from 1267 appears to be a completed five wave move, so current award reaction should then be a temporary corrective retracement. Corrections are three wave patterns so be aware of more upside after wave b). Larger trend remains down as long as 1267. http://www.ew-forecast.com
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