GOLD 4h Elliott Wave Analysis
Gold is in a pullback mode, much deeper than was firstly anticipated but despite lower price in the last 24 hours we see pullback in three waves. As such, any bullish price action should not be ignored yet. We adjusted the wave count and see now completed five wave rally at 1307 followed by a current set-back in three waves that can stop at 61.8-38.2% retracement zone. A five wave rally from here will put gold back in bullish mode. we need to be patient now, to make sure if we are on the right track with the count or no.
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