GOLD is trading choppy, slow and sideways for the last few months, which can suggest that metal may be trapped in a corrective pause within an uptrend. We see this pause as an EW flat in the making, which can be now unfolding final leg C of a flat. Wave C in a flat must have five sub-waves, while waves A and B both have only three. That said, support for wave C can later be seen around the Fibonacci ratio of 123.6.
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.