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If that lower high holds,
the price should turn lower in wave ‘iii’ pink.
As for the short term wave count,
The price has now declined below the 50% retracement level,
Then we have the chance of a sharp decline in wave [iii] brown developing this week.
Possible elliott wave signal off the recent high, watch out.
there are two likely targets projected for wave [v] green.
Wave [v] reaches equality with wave [i] green at
GOLD shot back into life today in a possible wave ‘iii’ pink to the upside.
This wave count might explain the indecisive nature of the price action over the last 10 days.
GOLD hit support at 1309 today,
The low came at 1307.35 cash.