Gold fell quite nicely last week into a possible corrective set-back in wave 2), which we labeled as an unfolding double zig-zag. As we see price has now all seven needed legs to the downside for a completed complex pattern, which could only mean that a possible turning point is near. Ideally final leg C) within falling price action will now bounce from around 1300/05 area and rise back above 1358 which will open door for 1375 and then even towards 1400 psychological level.
GOLD, 4H
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