ThirdWaveUp

Gold approaches bearish impulse invalidation level

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold             broke resistance a couple of days ago. If a pullback occurs, I would watch for support at the previous resistance line (which becomes support).

In terms of Elliott waves , the GREEN "4" wave count becomes invalid above 1162.76. The purple waves are an alternate, leading diagonal count which would indicate a possible reversal to the trend.

Previously I've seen no confirmation to the short side. I am staying neutral for now.
Gold wave 4 is now invalid. I will be looking for pullbacks before considering a long position.
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