Gold keeps falling sharply which now looks like an extended five wave drop from 1288 so whole decline from 1303 is probably impulsive. We are looking at wave 3) that can be looking for a support now around 1200-1215 for a short-term recovery up into wave 4). However, this whole decline since start of May is not a new bearish cycle, but rather wave C as part of a corrective flat pattern as shown on higher time frames.
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