Gold's transitory route towards a new all-time high has been postponed. Due to a misread with Waves 2 and 4 within sub-wave 3, the previous idea of Gold finding bottom support immediately below $1680 is obviously nullified at this point. Using invalidation as a signal, its now very safe to assume that Gold will drop to $1500-$1480 before support is likely discovered. Considering the size of the Zig-Zag correction in Wave 4 (of sub-wave 3), Fib levels point to the zone of $2270-$2570 for the next multi-year, upside swing.
Roughly a 50% anticipated increase in value, traders/investors/hodlers are due to reap decent profits. Surf with the Digital Surf Trading Community for daily-weekly updates on Gold, BItcoin and more.
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Gold may discover support in its current range as it seems that 5 waves down has completed for C wave. It is also slightly more than 100% the size of Wave A (commonly seen in a zig-zag formation).