Last week, Gold made a strong bearish move from 2048. Many peope think that this move is the start of a correction wave. However, in my opinion, Gold has lost its strong bullish momentum recently but it's still bullish and wave 5th of this 5-waves impulse hasn't been completed. I'm expecting Gold will slowly climb up in next weeks and then make an agressive pump to mark a new peak at around 2133, which completes wave 5th. We have observed the same pattern happened in previous 5-waves impulse. My model is invalidated if price fall below 1981.
Let's wait and see.
Let's wait and see.