XAU.USD fell down to Critical area: Gold bulls must re-take 1555

As you know, Gold caught a massive bid from the Iran Crisis.
We have since retraced most of those gains just as quickly.
More importantly the critical level of 1555 has been lost.

Plotted are three possible ABC correction patterns.
Also plotted is a Green Bullish path which is possible.
If ABC plays out, the higher wave B gets the better.

$ 1532/35 is the Minimum Expected retrace target.
$ 1517/18 would be 100% retrace of Iran frenzy.
$ 1497/01 of course is the critical last stand.

Per my other Big Picture Fib plots, $1555 is a MAJOR Fib line. (with effects for years)
Such lines are not easily crossed, especially in rapid succession. (but orbiting possible)
Bulls must retake and confirm it as support within a few days. (gets harder with time)


Previous Gold Analysis (click):
$1650 Target Raised to $1750
$1430 Targetted
Exact Map of Top
$1516 Top Call
$1498 top call
$1650 then $2100?<= Still Plausible
$1480 short TP
$1515 top call<= Awesome Short
$1555 top call<= Just in Time
$1406 to $1525<= Caught the Jump
$1439 top call<= To the Penny
$1332 bounce
$1270 bounce<= To the Penny
$1280 break
$1380 call <= 9 mos ago

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

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