GOLD was higher yesterday; it moved above 1240 where overlap suggests that three wave decline from March high can be finished. This pullback is also visible as a very nice set-back on daily chart so we are wondering if its time for a resumption of an uptrend. Well, we are looking very closely at the structure from 1208 which has to be made by five waves for final trend change from bearish to bullish mode. A push out of a downward channel would be also another confirmation for bullish reversal.
GOLD, 4H
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