Gold ~ the final sub-waves of a large double zig-zag bear market correction...
Since we last updated Gold we've seen a large drop that has been followed back to a new high in a five wave structure. A large "double" zig-zag pattern labeled as (W)-(X)-(Y) from the 2015 low is in the final sub-waves of completing. The top could already be in place shown on the weekly chart below, however, looking at the daily chart we can see a potential contracting "triangle" that formed over the past few weeks. Triangles like this only happen in a fourth wave position so it's likely that a fifth wave rally above 1800.00 will happen. Moving below the wave (e) of [iv] low at 1692.10 would confirm the recent high was the end of the rally. We explain the long term chart in detail and what to expect next for Gold in a video today on our YouTube channel... Hoping everyone has a great and SAFE holiday weekend!!! Follow the Trend and "Trade Safe"